It’s here once again, Agenda Miami, one of the most well attended apparel trade shows in the industry. I know we are excited to be down in Miami to visit with many of our clients. MRKT Capital has been supporting the apparel industry with working capital loans like factoring, purchase order funding, and term loans for a while now. We love working in such a fast paced creative industry where people do what they do out of a love to create, have fun, and maybe make a few bucks while doing it.
We get a lot of calls around Agenda Miami, Agenda Long Beach, and Agenda Las Vegas when the markets are HOT. Often times there is confusion around which type of business funding is best for their apparel brand. MRKT Capital was founded on providing the right information to entrepreneurs looking for business loans, cash advances, and other financing alternatives. We enjoy hearing from business owners and speaking with them about how they can improve their working capital. In this post we are happy to include a quick rundown of which type of financing is best for different situations.
Purchase Order Funding – Also known as a purchase order loan, po funding, or po financing. This type of funding is used to help cover the costs of producing goods that are backed by a purchase order. The PO should be from a credit worthy end customer. Purchase Order Funding is a great tool to use when you receive a medium or large PO from a credit worthy end customer. You can turn to traditional PO Funding companies like Star Funding or even utilize certain cash advance companies to assist with funding purchase orders. If you are collecting large orders at Agenda Miami give us a call. Let’s make sure you are secured with the best funding to support your orders.
Accounts Receivable Factoring – Also known as Factoring or Invoice Financing. Factoring is used to expedite payment against outstanding AR or invoices to your business customers. In certain cases you can also be protected against non-payment. This is called Non-Recourse Factoring, where the factor assumes the credit risk of your customer. There are a lot of factoring companies out there, and you need to be careful which one your choose. Many aren’t good with the apparel markets and you risk damaging your business. Some will hold up advances, or collect from your customers with a nasty attitude. We are familiar with the buyers attending Agenda Miami and we know how to work with them. MRKT has been working with factoring apparel businesses for years, shoot us an email and we can help you out. You can reach us at email@example.com.
Hopefully the above clears up some confusion between Purchase Order Funding and Accounts Receivable Factoring for the apparel industry. Good luck at the shows and if you see us walking around stop and say hello. We usually have free t-shirts, hats, and other awesome swag with us so feel free to ask.
Here is a video of Agenda Miami in full force from the Agenda website.
To get funding for your apparel business today send us an email at firstname.lastname@example.org or apply HERE. We can have you funded before your Agenda Miami trade show hangover is gone!