Manufacturing companies are dynamic with varying needs to stay competitive in today’s global economy. You need cash to operate your production line and to reinvest into your business to win new business and stay viable. Live Oak Bank offers asset-based lending for manufacturing companies of small- to mid-size who need sufficient working capital to capitalize on business opportunities and run a healthy business.
Your manufacturing business may need to purchase materials and hire employees to meet current production demand, with uncertainty around when you will get paid. Don’t miss potential sales because you don’t have the cash. Live Oak offers lines of credit for manufacturing companies when this is a better fit. A line of credit allows your business to have flexible access to money when needed rather than selling accounts receivable like with a factoring arrangement.
Waiting for invoice payments can be disruptive to the payment obligations you have to your employees, suppliers and other investments. By factoring your invoices, you can get the money you need right away. Live Oak Bank offers accounts receivable factoring, both recourse and non-recourse, that enables your manufacturing company to achieve better-priced financing than typically offered by traditional factors.
Need a little guidance and advice? Contact a loan specialist, they're ready to help.Connect with an Asset-Based Lending Specialist