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A company can be profitable but still find themselves in a cash crunch when outstanding invoices have not been paid. If the balance sheet isn’t strong enough for conventional financing, you should consider factoring.
Alternative financing can be beneficial for businesses of all sizes, offer many advantages and is cost-effective. With asset-based loans and other financing solutions, alternative lenders effectively fill in financing gaps for businesses and entrepreneurs.
Cash flow is a common problem in the transportation industry. The pain point for most transport businesses arises from the mismatch between the cash payments received from customers and the cash payments they have to make for operating expense, especially fuel and labor.
Transformation is increasingly less of a choice in financial services. As companies embrace digital technologies, the process is often easier said than done. Accord has been on a digital transformation journey for the past three years. In a recent article in Information Week, Eric Starr, Accord's SVP, Program Operations and Risk, shares tips learned through this process.
Accord's Capital Markets group was created to fund lending opportunities in a collaborative manner with other financing companies, enabling us to meet the larger needs of customers.
Although much of the sporting goods sold in North America are imported from overseas, there has been an increase in reshoring for many categories. Working capital needs differ greatly between domestic production and importing to get from design to collecting accounts receivable post-sale in the cash conversion cycle.
When business owners reach out to discuss their working capital requirements, many have a need relating to purchase order financing, or PO financing. In the simplest form, they have an order or pipeline of orders, but lack the cash flow to be able to convert their orders into sales.
With consumer spending patterns shifting from services to goods, U.S. manufacturing has benefited from onshoring during the pandemic. Clogged international logistics channels from foreign goods manufacturers combined with national support for job creation...
Factoring is the purchase of a company’s receivables where the factor advances 75-90% of the face value of the invoices once the product or service is delivered to the customer. It’s like a real-time line of credit in terms of cash flow. The reserve, the 10-25% is given to the company when their customer pays the invoice.