Manufacturing finance can help companies raise money by invoice factoring or discounting. To generate finance most manufacturing companies face the problem of having to wait until they have completed their production cycle, and received payment from their customers. From a logistic perspective, this becomes a nightmare for many manufacturing companies, as they can run out of money for their next production cycle. Even when companies have sufficient working capital to tide them over, they get into a fix when customers are late in paying, or when there is a sudden increase in orders. The best solution to these problems is getting immediate finance from the invoices to your customers. Manufacturing finance is based on either factoring or discounting the invoices through a invoice finance company, and getting finance within one or two working days. The responsibility of collecting the money from the customer when it is due can rest with the factoring company or the manufacturing business, depending on the service chosen.
We at First Financial will free up the cash from your invoices within a short time after you have issued them. Manufacturing finance will increase your cash flow, and you do not have to incur huge costs for raising money to buy raw materials and manufacturing supplies. When you are able to raise finances quickly through our services, you can command better discounts from your suppliers, and increase production whenever the market seems favourable. Your business will have the opportunity to grow, and not be restricted by insufficient working capital.
First Financial can arrange invoice factoring and discounting services. In invoice factoring, we can arrange to advance up to 90% within 24 hours, of the value on the invoice, and take over the task of collecting payments from your customers. Once your customer pays their invoice, you receive the remainder amount minus the fees. In invoice discounting we can arrange to advance 90% on the next day, but collecting payments will be your responsibility. We offer invoice factoring and discounting on confidential or disclosed basis, as per your requirements.
When you are selling products to other businesses, First Financial will make sure your company gets the best finance option suitable for your business. Our experienced finance staff will work out your requirements, and streamline the procedure for regular invoice financing. We are regulated by the Office of Fair Trading and the Consumer Credit Act, and hence you can be assured of receiving the best manufacturing finance at fair costs.