As we saw with the shutdown of factories in China, companies in the U.S. are extremely reliant on supply chains overseas. With the impact of the COVID-19 on American companies, some economists and supply chain experts are expecting an increase in repatriating manufacturing to the U.S. This is likely to occur more rapidly in some of the “critical” industries like medical devices and pharmaceuticals. However, it is likely to occur in other industries like electronics, the auto industry and many others.
As I am writing this on April 7th, we are still in the middle of this pandemic and a national shutdown. However, we will come out of this and our country will get back to a form of normal that we can recognize. At Primary Funding we continue to support our existing clients, as well as onboarding new clients that need our help. At the same time, we are also thinking about the coming recovery.
This repatriation will show up in the form of new companies sprouting throughout the country, as well as growth for existing manufacturing facilities. As we all know, it takes cash to support growth. It takes cash to support things like purchase orders and payroll. We want you to know that Primary Funding is well positioned to help these companies.
We are celebrating our 25th year helping small businesses and we look forward to the next 25. Primary Funding is ready, willing and able to help when you need us. We are here as a bridge to traditional finance.
Thank you for your continued support.
Jason Severson, President