We are often asked…
“What types of industries does Primary Funding serve?”
“What kinds of businesses are a good fit for Primary Funding’s services?”
Hence, we thought it would be a good idea to devote this month’s Client Corner to explaining more about WHO we help.
Primary Funding works with B2B businesses, meaning businesses that are providing products or services to other businesses. These B2B businesses are generating accounts receivables. Accounts receivables represent money owed to the company by their customers, and therefore, are assets Primary Funding uses to lend money to the business.
So, let’s say the B2B business has successfully delivered their product or service to their customer, then offers them payment terms of 30, 45, or 60 days. While the B2B business is waiting to get paid, they still have to meet payroll, pay suppliers, and other expenses. Thus, the B2B business is experiencing a CASH CRUNCH!
Often, due to stringent lending requirements, the B2B business is not able to get sufficient funding from a traditional bank. That’s when they come to us at Primary Funding for help. We’ll work with them to better understand their needs and try to find an alternative financing solution that fits their business.
Primary Funding can help companies in almost any industry, but below is a list of the most common industries we serve:
- Government Contractors
- Temporary Staffing
- Consumer products
- Business Services Companies
Generally speaking, we can help companies ranging in size from startup, all the way up to $25 million in annual revenue. Typically, our customers find themselves in situations where they need short or long-term financing. That’s why we have a few different financing options to help them reach their goals:
- Accounts Receivable Financing
- Purchase Order Financing
- Asset-Based Lines of Credit
- Bridge Loans
- Term Loans
- Invoice Factoring
At Primary Funding, we pride ourselves on our ethics and being able to provide straightforward pricing, flexible terms, and excellent customer service for each of our clients. We’re invested in the success of our clients. Literally!