Industries
Manufacturing
Is your manufacturing business struggling with cash flow?
Manufacturers often extend payment terms to their customers. They complete production, deliver their goods, then invoice the customer and wait to be paid. In the meantime, the manufacturer has its own costs to cover including making payroll, paying vendors, and paying for lease or mortgage. This creates a cash flow problem. However, there is a simple solution. Many small and medium manufacturers use invoice factoring to improve their cash flow.
MyFactor works with manufacturers in all sectors including:
- Apparel and screen printing
- CNC machining
- Food and beverage co-packing
- Supplement manufacturing
- Welding
What is manufacturing factoring?
Manufacturing invoice factoring is a financial solution where your business sells its unpaid invoices to a factoring company, like MyFactor, for an immediate advance, typically within 24 hours. Instead of waiting 30, 60, or 90 days for customers to pay, you get the cash flow to cover operating expenses, purchase inventory, pay employees, and invest in growth.
Fund the next production run
You have already paid for materials and labor on the last order. Factoring turns those invoices into cash for the next one, without adding a loan.