Over 18 Years in Business
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1st Commercial Credit provides receivable based lines of credit for the Plastic Injection Industry.
As an international leader in invoice factoring for small businesses, many industries related to plastic injection business come to us for funding. If you own a Plastic Injection company, you can tap into your outstanding invoices and establish a line of credit using your unpaid invoices. As long as you have invoices owed from creditworthy clients, we will assess them as the collateral for funding up to 90% of face value you may need to sustain your receivable based business line of credit.
Plastic injection molding companies are an important part of the supply chain for many industries and sell to very large buyers. The money required just to get a mold ready for the first run is considerable, and the ongoing process of creating exact products to customer specifications is also expensive. But no matter how high profile the buyers may be or buy in sales volume, the molding company still needs considerable cash flow to keep its business going. It seems like the larger the buyers are, the more they expect on extended payment terms. We have been able to fund outstanding invoices up to 120 day net terms for this industry.
There is much more to a successful plastic injection molding company than just pouring molten shot into a mold and then pulling out the final product. To get it done right, the injection molding company needs experienced personnel on staff, the best materials available and the most advanced equipment. All of that costs money, which makes cash flow extremely important.
Plastic injection molding companies have the same accounting concerns that all other companies have. They need cash flow, but past due invoices are slowing cash flow down to the point where the company has to consider outside financing to keep operations going. Instead of turning to bank lending or cash advances, a plastic injection molding company should consider a business line of credit funded by a factoring company. When you use accounts receivable financing to fund your company's ongoing operations, you are not taking on any new debt and you are not relying on the whims of a bank that can take weeks to make a financing decision.
Plastic injection molding companies do a very specific type of business that requires a constant flow of materials and cash to keep going. The process with a new client starts with client specifications for the plastic parts that will be used. Most people do not understand the significant amount of engineering and planning that goes into something as simple as a cup holder.
18 Years In business & Over 3,200 Clients Funded