PMF Bancorp simplifies the Steps
PMF Bancorp has been providing businesses with solutions to solve their CASHFLOW issues for 30 years through our commercial lending programs that are designed to be business friendly. When banks say “No”, PMF says, “Yes”. Factoring and Trade financing should not be dirty words when PMF has had so much success over the decades growing businesses with these product.
PMF’s financing solutions are very effective, but you should look at strengthening fundamentals in receivable management before looking to finance. At least by doing this, your borrowing will be most efficient. PMF strives to be a resource and provide its lines of credits when appropriate. We are interested in the long term relationship, not the short term gains. Besides our commercial lending programs which we are happy discuss anytime, a business can take the following steps to mitigate its CASHFLOW needs by taking the following steps…
- Setup early pay programs with customers that reward them for paying on time or early,
- Make sure receivable management team has proper training by joining the right credit association groups,
- Remove the Float from checks in the mail by setting up ACH Payments with customers,
- Make Invoices with proper language that place collection costs and fee penalties for late pays that can be added to future invoices,
- Create a standard credit protocol and make sure regular credit monitoring of customers is included in the protocol as the best defense is a good offense,
- Have directly communications with your customers AP on a regular basis so you can communicate effectively when things are not smooth ,
- And most importantly, don’t show up to your customers only when there is a payment problem…visiting your main customers is essential at least once a year.
If you need more info on financing to assist with cashflow, then feel free to call 310-858-6696 or email us.
