Fast AR Funding served as a factoring partner for a west coast apparel brand seeking to support its ambitious growth for 2020. The apparel brand sought a financial partner that didn’t have any minimums, contracts or set up fees. As retailers reopen at different capacity levels across the country, the apparel brand wanted to freedom and flexibility to submit invoices only when they needed an advance. While the flexibility was required, they additionally wanted to avoid fees for months where they are unable to ship to a retailer. The brand expects to have a strong holiday season with the comfort of having Fast AR funding along for the ride.
The apparel manufacturing company designs and works with local screen printers to manufacturer trendy graphic design t-shirts. The brand is currently private labeling its products through a major US retailer with an active ecommerce platform, and are looking to launch their own more premium brand during the holiday season. The entrepreneur leveraged her connections through existing retailers and throughout the screen-printing arena. The apparel brand is a true start-up with a strong pipeline of orders from their past design experience. The entrepreneur sought a partner that was able to support their summer and holiday season. When asked about why she choose Fast AR Funding, “I need a factoring partner that understood the apparel industry and moved at our pace”, further adding, “I need the ability to submit orders for funding no matter the time of the day, or day of the week, the technology platform that supports Fast AR Funding provides the best balance of flexibility and speed.”
Fast AR Funding provided a $150,000 selective recourse factoring facility without any contracts, minimums or start up fees. The brand needed the ability to pay their screen printers prior to receiving payment from the large US retailer, choosing Fast AR Funding to bridge the working capital deficit. The brand sought Fast AR funding to solve the 60 or 90 days it typically takes for a smaller brand to get paid by large retailers. As the purchase orders continue to pick up, the brand is hoping that the spot factoring solution will help manage costs during these early growth stages. The added value of getting their cash now rather than wait for three months, provides the opportunity to drive sales while keeping up with their suppliers.
Portfolio Manager, Micaella Poole, said “We are here to support all industries of course, but it is always great to see our immediate benefit as a brand can grow without having to worry about when large retailers will pay their bills.”
Fast AR Funding presented a quick, simple and seamless process to allow an entrepreneur to obtain additional orders for the upcoming holiday season.