Printing company factoring is an alternative funding solution to assist in working capital. The printing industry may be changing, with more people reading books and newspapers online as well as handling their bills electronically rather than with envelopes and stamps. Nevertheless, industry analysts report steady growth since 2010, thanks in part to printers diversifying into packaging, signage, and other non-book and non-periodical markets.
However, publishers and printers do face unique financial challenges beyond today’s major technological shifts and those often concern cash flow. Printing industry professionals face special challenges in maintaining a steady cash flow due to the lengthy delay between delivering a print job and getting paid for it. After large print runs requiring significant labor and materials investment, printers must wait 30, 60 or even 90 days for their customers to pay. While this can seem like reasonable payment terms for customers who may be waiting for magazine subscriptions to be paid or books to sell, the long wait for payment can leave many printing companies short on paying fixed expenses and payroll. Advertisers in particular can require lengthy payment terms before the cost of space ads in newspapers and magazines.
Factoring services can close the gap between invoicing and payment for your printing business. Printing company factoring provides advances on your invoice within 24 hours of delivery of the completed printing job. With the boost in cash flow, you will be able to meet all your expenses from equipment and paper to staff and rent.
Interstate Capital, one of North America’s leading factoring companies, can convert the funds sitting in a printer’s or publisher’s stack of accounts receivable into ready cash to cover payroll, bills, paper, inks, and equipment leases. With this cash infusion, printers can set aside funds to grow their business. This can be the time to invest in new printing presses, upgrade technology, launch a new publication, introduce new services – whatever a company might need for expansion and increased profitability.
Interstate Capital’s printing factoring experts can work with companies related to the industry and offer publisher factoring, magazine factoring, and factoring for digital media and advertising agencies.
To find out more about how printing company factoring services can benefit your business, get an instant factoring rate quote today.