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    3 Replies Latest reply on Aug 28, 2010 12:06 PM by phanio

    Small established business looking for help

    manablades Newbie
      im a small manufacturing company specializing in outrigger canoe paddles and stand up paddles. this is a growing industry. that in a few years it will grow .
      im looking for 25k to 50 k to start i have not much back ground in busness but the production aspect and sales part is what im best at .. its a very high profitable bruises on the min of 50 % profit on
      each one . had the busness for 8 years and done well just not as a organized busness.. this company can become a million dollar company in a few years.
        • Re: small established buisnes looking for help
          FinanceOne Wayfarer

          The most common type of working capital financing for manufacturers is invoice or receivable factoring. Basically, you sell your outstanding invoices for delivered products at a discount for immediate funding. The creditworthiness of your clients is the determining factor for determining the discount rate.

          Could you provide some additional information? What do you need the money for? Do you have any collateral you can pledge?
          • Re: Small established business looking for help
            phanio Pioneer
            There are a few options for your business. As stated, if you have unpaid invoices, you can always factor those given that they are with reputable companies. If you also have orders in hand but not the cash flow to complete the jobs - you can always factor those purchase orders and get the working capital you need. Might even be a better way to go. Go out and get the business from reputable retailers - then factor those orders for the money you need.

            You best bet might be to match different financing types with your different needs. Example, if you need equipment, look for an equipment lender that will provide what you need. If you need inventory, look for a secured loan from a provider of inventory or secured financing. If you need working capital, look to factor your financial assets or, if you have to go unsecured here, you will request less overall which makes it easier to qualify for.

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