Manufacturing Finance Loans for Equipment and Business
Accounts receivable for manufacturing tends to be longer than the average net 30. It’s normal for customers to expect terms of 60-90 days. But your business needs to be paid in order to stock raw materials, meet payroll and literally keep the lights on.
And that’s just for basic operations. But you’re not in business to just get by. You’d like your business to reach its full potential and so does Greenbox Capital. That’s why we offer ways for you to fully benefit from manufacturing finance.
Our small business financing solutions are designed to help your company’s growth. Our application process is fast and simple. We require very little paperwork and don’t have restrictions on how the funding is used or limit the types of businesses we approve. Forget everything you know about banks and other traditional lenders and finally get a yes for your small business working capital needs. Unlike banks, we’re an alternative lender and we cater to manufacturing business funding. Our goal is to boost your business, so we make eligibility extremely easy. We’re also super-fast at getting you cash. In fact, funding can be deposited into your account in as little as 24 hours.
Invoice Factoring for Manufacturing Businesses
In addition to manufacturing business loans, Greenbox Capital provides Invoice Factoring. This allows businesses to collateralize unpaid invoices and receive $5,000 to $250,000 in cash business financing. Depending on the creditworthiness of your customers, we can advance you upfront as much as 80% of the invoice value. You receive the remaining percentage due after all of the invoices are paid, minus a fee. Another benefit of invoice factoring is it’s not your credit profile that matters. It’s the credit score of your customers that determines your approval and fees. The fee on the amount funded is usually 3-5% of the invoice value. Terms are generally 2-3 months, so fees can range from 1.5% to 2.5% per month.
To get started, complete our application and provide 3 months of bank statements, the invoices to be factored, and contact information for your accounts receivable manager.
Inventory Financing For Manufacturing Success
Purchasing and warehousing inventory is a specific challenge that manufacturing companies must master if they’re going to succeed. Two ways to excel in these areas is to maximize the use of warehouse space. Who wants to pay the overhead for a half-full warehouse? Manufacturing finance alternatives to getting cash in hand include a Merchant Cash Advance¹ or a short-term Small Business Loan². Greenbox Capital’s manufacturing equipment financing supply you with funds to purchase inventory when it makes sense.
- Buy in bulk and save
- Grab supplier special off-season discounts and liquidation sales
- Keep warehouse capacity maximized
- Keep materials stocked to seize unexpected or rush orders.
Strengthen Customer Relations While Increasing Profit
Access to working capital also supports your ability to build and strengthen customer relations. Imagine being able to extend credit in order to land a profitable client. How about having the financial strength to offer a discount now, knowing it will pay dividends in the future? This is all possible when small businesses have the manufacturing finance opportunities that big businesses take for granted. Greenbox Capital’s easy application process and small-business friendly guidelines:
- Hassle-free online application
- Quick approvals and fast access to cash
- Lump sum payments possible in 24 hours
- New businesses in operation for 6 months are eligible
- Financing from $5,000 to $250,000
- Low credit scores are considered
- Bankruptcy is not an automatic disqualifier
- No collateral is needed
- Affordable payback program
- No hidden fees
Greenbox Capital Is Your Small Business Partner
Greenbox Capital exists to serve the small business community with a variety of ways to secure manufacturing business funding that suits your company. A Merchant Cash Advance is one of the most flexible and fastest 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. Generally, business owners averaging a minimum of $7,500 revenue over the past three months can qualify for a cash advance equal to 70% or 100% of their monthly revenue.
Repayment options include Automated Clearing House (ACH) or split funding through your credit card processor or lockbox. ACH payments are fixed amounts debited daily or weekly from your business bank account and are ideal for the business owner who feels secure knowing the amount of the payment in advance.
Another repayment method in manufacturing finance is split funding, which syncs the payment amount with your credit card receipts. If your business experiences seasonal 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 as payback is agreed upon in advance.
We have even more choices! Ask about a Business Line of Credit, Collateral-Backed Financing,, a 3 Stip Business Cash Advance, an Escrow Program and Greenbox Capital’s Early Pay-Off 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 for manufacturing finance, please complete our application or contact our Merchant Account Service Team.