Financing,Large,Equipment,Rese finance, share, loan Financing a Large Equipment Reseller in Miami Florida


Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track


A Miami-based company is a leading provider of heavy equipment to the United Nations. They had an opportunity to take on a new contract with the United Nations to provide equipment to earthquake-ravaged Haiti, but needed financing to purchase the products needed.   Going through the traditional banking system for a loan didn’t make sense.  They needed to close on a line of credit quickly and easily.  Through researching alternative bank financing they discovered the practice of factoring.  Factoring is a form of asset-based financing and is the process of selling commercial accounts receivables by a business in order to obtain immediate cash payment of the accounts before their actual due date.Factoring differs from borrowing in that the accounts receivables are actually sold rather than merely offered as collateral. The net result is that your company can convert its receivables into immediate operating cash so that you will not have to wait 30, 60, 90 days or more for your customers to pay.Purchase order financing is a funding option for businesses that need cash to fill single or multiple customer orders. In many businesses cash flow problems exist. There will be times where there is simply not enough money available to cover the costs of doing business. As a result, there may be an order from a client that isn’t able to be fulfilled due to a lack of cash. A company may not be able to afford the supplies necessary to meet the client’s particular needs. The company had a lot of hoops to jump through with the United Nations as payer.  The factoring company they choose were able to help them navigate through these challenges.Usually, once factoring is complete, the factoring company sends domestic corporations a notice of assignment, a binder of payment that gives them legal recourse should the debtor not pay. However, the U.N. is not bound by U.S. law.   The factor researched the U.N.’s documented assignment guidelines and found the right person to negotiate with, as well as the U.N.’s procurement officer in Haiti, their payment office in Denmark, and the equipment supplier in Columbia – a virtual U.N. of contacts. The U.N. also only pays by wire, and only to the name of the company on the contract.  The factor negotiated with the bank to accept a wire in the company’s name.The Miami business was able to land a $900,000 purchase order financing and invoice factoring line of credit. The financing will enable the them to take on global contracts, purchase equipment and continue to expand their growing business.

Financing,Large,Equipment,Rese

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