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9/16/2019

How Working With an Experienced Financial Provider can Benefit Housewares Companies

When it comes to financing their working capital, housewares suppliers and manufacturers often rely on their retained earnings, personal funds or lines of credit.  These companies want as much cash as possible to flow to their bottom line, so they tend to fund everything—from credit to collections—through their day-to-day operations.

That may be a valid system when times are good. But if their customers fall behind on accounts receivable payments, these companies suddenly face significant risk to cash flow. A safer solution would be to work with a professional factoring and accounts receivable management company, such as CIT.  It allows you to improve cash flow and mitigate credit risks.

There are many benefits to working with an experienced financial company. Among them:

Flexibility to support your company’s growth

Many financing methods lack the flexibility to grow alongside your company. But with professional factoring and accounts receivable management, your borrowing ceiling can rise as your sales increase. 

Professional approach to collections

A trusted provider, one with extensive relationships with your customers, can obtain payment on receivables even when others cannot. In addition, that firm can offer meaningful intelligence, helping lead you to more successful outcomes. And that firm can professionalize and enhance your customer relationships, employing best practices and today’s technology to provide a consistent approach to credit extension, collections and administration.

Finding the right financial company

As your company grows, you’ll find that bigger opportunities require more robust and reliable financing. That’s why it’s important to work with a financial provider skilled in factoring and AR management.  A company like CIT can help provide you with the financial stability and liquidity needed for steady growth. 

At CIT, we start by gaining a thorough understanding of your needs. And we use our full range of resources to help maximize liquidity, accelerate collections, automate payments, and minimize risk for you. When you enjoy a strong factoring and accounts receivable management relationship, you’re ready to move forward with confidence.

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