A client called Summar asking for help fulfilling a purchase order. This particular client provides drilling equipment for oil companies in various countries in Latin America, and has been in business for a couple of years. The client has a successful history of transactions with his customers, which allowed him to gain their trust. He started bidding on larger orders and was lucky enough to obtain a few, which would require additional capital to be able to fulfill.
At Summar we offer a business invoice factoring service that is tailored to fit each individual client’s needs, ensuring success and peace of mind.
The client sold to customers offering them 30-day terms. Considering that his customers are large oil and drilling companies, the client was confident and invested all his working capital in day to day sales. The new orders required additional capital, which he did not have because he had to pay 100% of the parts to his suppliers prior to shipping. After shipping, he had to invoice his customers and give them the required 30-day payment terms.
Summar’s business invoice factoring, P.O. finance solution offered the client the ability to pay his suppliers in full prior to shipment, and secure stability while waiting 30 days for payment from his clients.
With P.O. finance, our client receives funding, which allows him to acquire further purchase orders, while Summar collects payment from the final customer.
Each transaction has different scenarios and diverse details of the logistics process between purchases to delivery. Summar works hand in hand with our clients to accommodate our product to their needs, and make sure it works to their benefit.
Our goal is to help you fulfill your order and grow your sales.
The result is a satisfied client who with the help of business invoice factoring, can now bid on larger orders without the worry of whether they will have the capital to fulfill said orders. This gives the client a major opportunity for growth and allows him to compete with companies with higher production numbers.