Pallet company factoring services can resolve that challenge with advances on invoices so a company does not need to wait for customers’ payments. Owners of pallet companies can struggle with the same financial juggling act faced by any manufacturing operation. Pallet companies are labor-intensive and dependent upon raw materials, so the need to pay both employees and suppliers remains a top priority, day in and day out. Weekly payroll can become challenging when owners have invested in shipping their pallets out the door on time to their customers, but those customers have negotiated payment terms of 30, 60, or even 90 days.
With pallet company factoring, owners can use that working capital that’s been tied up in accounts receivable and put it to work to cover bills, payroll, and raw material costs. It’s a reliable way to ensure that owners of small and medium-sized businesses are able to meet all their financial obligations without incurring debt.
When you use pallet company factoring, you will be able to receive advances of up to 90% of your invoices immediately instead of waiting weeks or months. When you speed up your cash flow, you can pay your monthly expenses on time while you improve your credit rating with on-time payment. You can also take advantage of suppliers’ volume discounts and early payment discounts. With your cash infusion, you can also set aside funds to make capital improvements in your factory or hire more workers to help you increase your productivity and profitability.
Interstate Capital, one of North America’s leading factoring companies, has helped more than 10,000 business owners stabilize their cash flow. You gain the peace of mind and the ability to help you meet your financial obligations each month, take on more profitable contracts with longer payment terms, and continue to grow your business.