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Purchase order financing can help if you are a wholesaler and have purchase orders that you cannot fulfill because you lack funds.
Unlike traditional bank financing, PO financing is easy to qualify for and can be set up quickly.
Purchase Order Financing involves a bank/lender paying the supplier of another company, for supplies that have been ordered to fulfill a job for a customer. The Cash Advancement is typically not a 100% value of the Supplies Invoice, but it will cover a large portion of it.
E.g. You receive a Purchase Order from your customer and a Proposal from your supplier. You apply for PO Financing with a bank/lender. The bank/lender will then pay in partial the value of the Purchase Order to your Supplier, accompanied with the remaining balance from you. The supplier will then deliver the goods to your Customer. Thereafter, your customer will pay the bank/lender in full upon your invoice. The bank/lender will then deduct the fees incurred and return the balance to you.
Typical Advantages of PO Financing:
- Its easily available to start-ups & SMEs.
- It can cover up to 100% of your suppliers costs.
- A typical PO Financing facility can be set up more quickly than a loan application from banks.
- The line grows with your business revenues.