What is a Merchant Cash Advance
For subcontractors and manufacturers, Merchant Cash Advances (MCAs) feel like a lifeline—especially when payroll is due and receivables are still weeks away. MCA brokers promise quick approvals, minimal paperwork, and money in the account in a day or two. But like most “easy” solutions, MCAs come with a catch. And when it comes to construction […]
How to Get an SS-4 Form and Why We Request It
Most lending partners ask for verifying paperwork during the approval process, including copies of driver licenses, Articles of Incorporation, and an SS-4 form notice. The SS-4 form notice, also known as an EIN Confirmation Letter, verifies your Employer Identification Number (EIN). Why do we need to verify your EIN? An erroneous or invalid EIN can […]
How To Get a Manufacturing Business Loan
Manufacturing is an essential part of the American economy, supporting 8.5% of the country’s workforce. Of the nearly 252,000 businesses that work in manufacturing, 75% of them have less than 20 employees, according to the National Association of Manufacturers. For many small businesses, it can be difficult to find a loan, whether through a bank, […]
Loan Types for Manufacturing Businesses
In the decade following the Great Recession, many American manufacturing business owners have struggled to secure loans or lines of credit from traditional banks. As a result, a host of new and different manufacturing finance lending options have sprung up to help manufacturers looking to expand, better manage their cash flow, purchase new equipment and […]
What Is WIP Financing?
Does your manufacturing or fabricating business need additional funds to cover a cash flow pinch caused by a big order or a slow-paying customer? Work-in-Progress (WIP) financing is an important tool specific to the industry that may overcome these and other common cash flow challenges and better align with your business’s cash flow cycle than […]
Borrowing Capital is a Smart Way to Grow Your Business
“You’re either growing or you’re dying” is a popular business idiom. For some companies to grow, they rely mainly on customer referrals and organic market growth. For everyone else, you either need to generate more leads, capitalize on bigger opportunities, or some mixture of both. Here’s another business quote, “You have to spend money to […]
Is There Really Good Debt and Bad Debt?
Is there such a thing as “good debt?” Yes, there is. What is the difference between good debt and bad debt? Good debt helps you grow. Bad debt weighs you down. For example, meet Kelly, owner of Kelly’s Creations. Kelly has owned and operated the small manufacturing company for 10 years, ever since her dad […]
PO Financing for Manufacturers
Purchase Order Financing, or PO Financing, is a type of commercial financing that leverages the purchase order from your customer as collateral for the loan. What Is PO Financing? Purchase Order Financing offers you cash before the work starts, which makes it an attractive option for manufacturers with tight cash flow. PO financing is based […]
How Working Capital Can Help Meet Customer Service Levels
A Service Level Agreement (SLA), the agreement between you and your customer on what each can and should expect from the other, is central to meeting customer demands and expectations, and working capital is essential to meeting the SLA parameters. Working capital represents the assets or cash flow available to make payroll, pay suppliers and […]
Financing Options for Manufacturers
One of the most common mistakes manufacturing business owners make is to view debt as a bad thing, a thing to be feared, rather than as a tool for growth. It’s not hard to understand why. Traditional funding solutions like bank loans are often difficult for manufacturers to obtain, and not every funding source available […]