PO Financing Helping Government Vendors Grow
(For immediate release) Miami, Florida – Invoice Factoring Group has launched a purchase order financing program designed to help companies fulfill government purchase orders. The program provides with all the necessary financing to pay suppliers, allowing government vendors make the sale and fulfill the order.
The government is one of the biggest, if not the biggest, purchaser of goods and services in the country. Every day, businesses of all sizes get purchase orders from the government. However, not all businesses have the wherewithal to fulfill these purchase orders. The po financing program provides clients with the necessary letters of credit to pay vendors using the purchase order as collateral. This allows them to make the sale and realize the profits.
“Our po funding program is geared towards small and medium sized businesses that need financing to fulfill their purchase orders,” said Marco Terry, president of Invoice Factoring Group. “And as opposed to a business loan, purchase order funding can be obtained in as little as one week and has no set maximums.” he later added.
Purchase order funding is simple to use and works as follows:
- Client obtains a purchase order from the government
- The factoring company provides a letter of credit to your suppliers
- The supplier delivers the product to your client, allowing you to invoice
- The transaction is settled once your client pays the invoice
In certain transactions, po financing is used in conjunction with invoice factoring. Many times, combining these two business financing tools enables business owners to save on the total transaction costs.
Invoice Factoring Group is also offering its full suite of trade finance products, which includes purchase order finance, export financing and import export financing.