Financing for Hardware Suppliers and Vendors

Financing for Hardware Suppliers and VendorsAmericans are embracing home improvement projects with expenditures achieving double-digit gains for the first half of 2014. Informational television is increasing the scope of homeowner’s projects, with HGTV as one of the most watched networks for weekend viewers.

Consumers are being motivated to invest in their homes both through do it yourself and professional home improvements. As the public holds onto homes for longer periods, they have graduated from simpler repairs to more encompassing renovation projects.

This trend is borne out by the steadily increasing revenues of Ace Hardware, Lowe’s, The Home Depot, Menards, True Value and the hardware industry as a whole.

The longer the “honey do” list, the more need for hardware goods and services. Greater public awareness of the most successful projects can cause more frequent demand changes. Such factors as multigenerational housing, eco-friendly designs, and downsizing are all causing innovation in products and services. Flexibility amid growth can create management challenges. There are seasonality issues to deal with as well, and demand can vary significantly at times. Conventional bank financing may not be the most appropriate source of funding for companies in our industry.

Financing for Hardware Suppliers and Vendors

Purchase order funding can offer an opportunity to receive working capital upfront for a single large order or multiple orders. The funds can be accessed as a single transaction or a line of credit without the same credit scrutiny that banks require, as approval is based more on the creditworthiness of the purchasing company. This could allow you to take advantage of the strength of your customers and can be a good source of additional working capital.

Accounts receivable factoring can provide a similar source of working capital. The factoring company purchases the invoice from the supplier at a discount (advances can be up to 90%), providing funds up front rather than waiting for the collection process. Again, this will be largely dependent on the creditworthiness of your purchasers.

Paragon Financial specializes in managing liquidity in today’s competitive environment. We offer 25 years of experience providing funding for working capital needs by advancing on accounts receivable and purchase orders.

Fast funding for hardware suppliers and vendors!

Apply Securely, call 888-400-5931 ext 1 or email us.

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