Business Financing for Ohio Manufacturing Companies
Accounts receivable for the manufacturing industry tends to be longer than the average, net 30. It is common in this industry to have terms in the 60-90 day range. However your business needs to get paid in order to stock materials, keep the lights on, and meet payroll.
And this is just for basic operations. You’re not in the business to “just get by”. You want your Ohio manufacturing business to reach its full potential, and so does Greenbox Capital!
Our small business financing solution Was designed to help boost Ohio small businesses. Our application process is simple and fast. We need very little paperwork, and we don’t have any restrictions as to how the funding is used. Forget everything you think you know about banks and other traditional lenders, and finally get a “YES” for your small businesses working capital needs. Unlike banks, we are an alternative lender, and we cater specifically to small Ohio businesses. Our goal is to boost your business, so we male eligibility very east. We also get you the cash FAST. In fact, funding can be in your account as little as 24 hours.
Invoice Factoring for Ohio Manufacturing Businesses
Greenbox Capital Invoice Factoring allows Ohio businesses to collateralize unpaid invoices and receive anywhere from $5,000 to $250,000 in cash business financing. Depending on the creditworthiness of your customers, we have the ability to advance as much as 80% of the value of the invoice. You receive the remainder after all the invoices are paid, minus a small fee. Another benefit is that it’s not your credit profile that matters. It’s the credit score of your customers that dictates your approval and fees. The fee on the amount you are funded is usually 3-5% of the value of the invoice. Terms are typically 2-3 month, so fees range 1.5%-2.5% per month.
To get started, complete our application and provide just 3 months of bank statements, the invoices that will be factored, and contact information for your accounts receivable manager.
Inventory Financing For Ohio Manufacturing Success
Warehousing and purchasing inventory is a unique challenge that manufacturing companies must master if they are ever going to succeed. One way to excel in these areas are to maximize your warehouse space. Who wants to pay the overhead for a half-full warehouse? With cash from Merchant Cash Advance1, or a short-term Small Business Loan2 from Greenbox capital, you have all the funds to purchase inventory when it makes sense.
- Buy in bulk and save money
- Grab supplier special off-season discounts and liquidation sales to improve margins
- Keep warehouse capacity maximized and ready to go
- Keep materials stocked for unexpected or rush orders
Strengthen Your Customer Relations While Increasing Your Profit
Having access to working capital also supports your ability to build and strengthen customer relations. Imagine having the ability to extend credit in order to land a profitable client. How about having the financial strength and backing to offer a discount now, knowing it will pay dividends in the future? This is all possible when small businesses have the opportunities that big businesses take for granted. Our easy application process and small-business friendly guidelines:
- Hassle-free online application
- Fast approvals and quick access to cash
- Lump-sum payments possible in as little as 24 hours
- New businesses in operation at least 6 months are eligible
- Financing ranges from $5,000 up to $250,000
- Low credit scores are OK
- Bankruptcy is NOT an automatic disqualifier
- Zero collateral is needed
- Affordable and easy payback program
- Zero hidden fees
Greenbox Capital Is Your Ohio Small-Business Partner
Greenbox Capital exists to serve the small business Ohio community. Merchant Cash Advance is one of the most flexible and quickest ways for a small business that accepts credit cards to access working capital. This type of funding enables you to receive business financing based on your future credit card receipts. Typically, business owners who average a minimum of $7,500 in revenue for the past three months can qualify for a cash advance that equals 70% to 100% of their monthly revenue..
Repayment options include Automated Clearing House (ACH) or split funding through your CC processor. ACH payments are fixed amounts debited either daily or weekly from your business bank account and are ideal for the Ohio business owner who feels secure and safe knowing the amount of the payment in advance. Another method is called split funding, which syncs the payment amount with your credit card receipts. If your business is seasonal and experiences ups and downs, or you just want a payment schedule closely aligned with sales, split funding could be the way to go. A split funding payment schedule is based on a fixed percentage of credit card receipts. The credit card receipts will vary according to sales, but the percentage of the receipts due is agreed upon in advance.
We have even more choices. Ask about our Ohio Business Line of Credit, Collateral-Backed Financing, 3 Stip Business Cash Advance and Greenbox Capital’s early Payback Program.
¹ Greenbox Capital Merchant Cash Advances may not be available in all regions of the United States or Canada.
² Greenbox Capital Small Business Loans may not be available in all regions of the United States or Canada.
For a free consultation, please complete our application or contact our Merchant Account Service Team.