What Kind of Financing Is Right for You? Exploring 3 Options.
When it comes to securing cash for your business, there are nearly endless options. Knowing which route to take can be tricky, as each funding option comes with different pros and cons. At STAR Funding our team is dedicated to helping you choose the right trade financing structure based on your unique circumstance.
Below, we’ve highlighted different funding options that can help assist you in growing your business smarter and faster.
Funding Options to Fuel Business Growth
1. Purchase Order Funding
Landing a large purchase order can be scary if you don’t have fast access to cash. With PO Financing in place, you can fund up to 100% of the production of your goods—meaning you don’t have to turn down purchase orders. Giving you quick access to capital to fund your existing finished goods and work in process POs, this type of transactional financing allows you to spend more time on marketing, sales and manufacturing, rather than raising money to finance growth.
2. Accounts Receivable Factoring
If your company is growing quickly—you may be outgrowing your working capital. With AR Factoring you can help speed up your cash flow and improve your working capital by purchasing your accounts receivable and advancing payment against them. Non-Recourse Factoring is a great tool that offers liquidity and safety for your growing business.
3. Secure Letters of Credit
If your business is looking to secure international or domestic trade transactions, Letters of Credit are great tools that ensure a supplier will not be paid until they perform their duties under the original terms of the transaction. Protecting you from payment disputes, our team of experts maintain close relationships with leading international banks—allowing us to draw quick, secure letters of credit on behalf of our clients.
Choose the Right Trade Financing Option with STAR Funding
Whether you’re a small or large manufacturer looking to purchase raw materials or goods—or an apparel company looking to improve your AR Factoring arrangement, STAR Funding has you covered. Offering multiple funding choices that aid in the success of your business, we make quick decisions without any red tape.
Apply for funding today or contact us with your questions.