purchase order/inventory financing

[gogotren]

Does anybody have any experience with purchase order or inventory financing? I have a large order coming up and do not have the funds to finance it. It would only be for 6 weeks for the inventory financing, then maybe another 2-3 months till my invoice is paid. I know any place in lending there are always gonna be some crooks, any advice? There are a ton of places that do what I need, what should I look out for?

 

[dawona]

I have been in your shoes. My best advice would be to build a relationship with your banker. For years I lived off my 2 million line of credit. Traditional banks will give you the best rates if you can qualify and have the history.

 

[gogotren]

I have been in your shoes. My best advice would be to build a relationship with your banker. For years I lived off my 2 million line of credit. Traditional banks will give you the best rates if you can qualify and have the history.

You have a little kicker at the end there, "have a history". Your "relationship" with a bank does not exist, you are a #, a profit center. As soon as you are to much risk, ie: reserves drop, late payment, bank is struggling, you will be cut down. Many banks like wells fargo, B of A don`t do this kind of financing.

What I need is a little unconventional, funding an outstanding purchase order. I have an order with a fortune 500 company, they will pay 100%, but I need money before the 60-90 days in which they will pay. After 2-4 containers I can fund it myself. I have found a place now for my funding