In a challenging economy, rather than trying to increase the flow of investment capital, banks become more and more unwilling to lend money to small businesses. Luckily, there is a viable answer to this problematic bind that so many small business owners are facing as they try to find essential funding. Factoring companies like PMF Bancorp can fill the financial void through Accounts Receivables Financing and Factoring.
When U.S. Bancorp commissioned a survey of 1,004 companies nationwide with annual revenue of $10 million or less, the frightening results showed that less than a third of those surveyed believed their banks were doing their jobs well. “When it comes to basic financing and other business services, the banks are no longer stepping up to the plate when needed” states Stephen Perl, CEO of 1st PMF Bancorp. Smaller companies still have many needs such as buying goods, meeting payroll, and even seizing upon various market opportunities. What is your small company supposed to do to ensure success in such a hostile banking environment?
The clear and logical answer is factoring and accounts receivables financing. As a smart alternative to traditional banks, PMF Bancorp is a leading commercial lender, trusted throughout the banking industry. PMF Bancorp provides businesses with capital when needed on a flexible formula basis that is proportional to sales. The factoring or trade financing “lines” grows as the sales to credit worthy customers increase. In other words, PMF Bancorp gives our clients the ability to capitalize on market opportunities and expand their business. After all, PMF Bancorp believes in prosperity and the ongoing success of the American economic model. The name of our investment game is growth and optimism, not fear and pessimism.
Accounts receivable financing allows a company’s balance sheet to remain strong and flexible. A full service provider, PMF Bancorp purchases invoices from your clients and does not take an equity position. Clients incur no debt and maintain control of their business. Unlike banks, PMF Bancorp does not require the lengthy process, personal credit score, business history and the multitude of red tape necessary for traditional debt. If you choose the PMF Bancorp factoring option, you can have cash in hand within the week.
The goal of PMF Bancorp is to help your company thrive by avoiding the cash crunch. Our factoring clients include not only manufacturers or distributors selling to retailers, but service-related industries as well like staffing, transportation, and international trade. PMF Bancorp is so popular because we provide our clients with an extensive package of financial management services. Our clients realize that factoring is not a last resort, but an effective financing option that makes more sense than traditional banking. If you want to know more about the package of services offered by PMF Bancorp, please do not hesitate and contact us today.
