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A printed circuit board company has a long list of ongoing costs that it must meet in order to satisfy client demand. Some of the materials that these manufacturers deal with are considered hazardous and there are costs associated with handling them. The personnel required to develop and produce these customized pieces of technology is getting more specialized and, as a result, more expensive. In order to sustain operations, a printed circuit board company needs a reliable cash flow. But past due invoices can make a reliable cash flow all but impossible. The solution would be to turn those outstanding invoices into cash, and that is exactly what receivables-based lending does.
1st Commercial Credit is a receivables-based lending company that has years of experience working with a variety of technology manufacturers, including printed circuit board makers. We know how important your cash flow is to your company's survival, and that is why we offer a variety of flexible receivables-based lending programs that will turn all of your approved outstanding invoices into cash. As long as you have legitimate invoices issued to creditworthy clients, then 1st Commercial Credit can turn those invoices into cash and give you the financial resources you need to be successful.
Cash Flow Can Come From Your Invoices
The expanding opportunities in the printed circuit board industry has allowed manufacturers to take on more clients and look forward to expansion. But that expansion is tainted when there is plenty of revenue in invoiced sales, but past due invoices force the company to look for other alternatives. With receivables-based lending, we will turn your invoices into cash and advance you the funds you need to create the cash flow that will make your business successful. We deduct a small fee from each invoice and then advance the rest of the cash directly into your company's bank account. We can approve invoices in a matter of minutes and advance funds into an approved account in 24 hours or less. We will create the sustained cash flow you need to meet growing customer needs.
The Costs For Running A Technology Company Continue To Climb
The entire technology industry is growing at a record pace and the printed circuit board industry is right in the middle of that growth. If there is one thing that a manufacturer needs to sustain growth and take advantage of opportunity, it is cash flow. With a receivables-based lending program from 1st Commercial Credit, your printed circuit board company will be able to turn those past due and outstanding invoices into cash immediately and have the financial resources you need to meet payroll and buy supplies. You will be able to meet your ongoing financial obligations and that will allow you to plan for future success.
Your printed circuit board company needs to be poised to take advantage of the growing revenue potential in the technology sector. With a receivables-based lending program from 1st Commercial Credit, your company will have the reliable cash flow it needs to meet all of the financial challenges that come with growing in a competitive industry.
Few industries in the corporate world have grown faster than the printed circuit board industry. There was a time, not too long ago, that only high-technology devices had printed circuit boards in them. Calculators, radios, televisions and computers were usually the only items in the average home to have a circuit board. But with the advances in technology that are happening, even the toaster has a special circuit board in it that helps to monitor the heat of the toast and prevent it from burning. The argument about whether or not all of this technology is good for mankind is secondary to the explosion of revenue that printed circuit board manufacturers are seeing.
A printed circuit board creates electronic circuits for devices of all sizes that can be easily reproduced. Instead of wiring each device by hand using copper wires, the circuit board has the paths built in and carries the current where it needs to go. Through the use of semiconductors and resistors, any device can allow information and electronic impulses to travel from one point to another in an instant. The most common example of a printed circuit board that people see on a fairly regular basis would be the main board of a computer. But there are also printed circuit boards that connect to that main board to create the computer's functions. Memory, sound cards and video cards are also printed circuit boards with very specific functions.
The Printed Circuit Board Industry Gets Larger As The Boards Get Smaller
Along with enhancing the devices that already exist, there is also a wide variety of industries that have been created in recent years that require printed circuit boards. Laptop computer, smartphones and tablets all require printed boards to carry information and vital electronic impulses. Many of the educational toys that we see today require printed circuit boards as well. These days, almost everything that can be plugged in to a power outlet or takes batteries has a printed circuit board in it. When you stop and think about it, that is a tremendous market with significant revenue potential.
As the technology gets more advanced, the circuit boards get smaller. The research and development required to stay competitive in the printed circuit board industry is getting more expensive and the processes being used to make the boards are getting expensive as well. The market for these little technological wonders is expanding at a phenomenal rate, but so are the costs to meet customer demand. As more and more companies require printed circuit boards for their products, the circuit board industry needs to step up and provide the products that consumers are looking for.
Each Printed Circuit Board Is A Custom Creation
Some manufacturers are lucky and find a circuit board design that is already in production that they can use for their latest product release, but most manufacturers are not that lucky. Just about every printed circuit board being used today is a custom design that was created specifically for the product it is installed into. That means that if a computer manufacturer needs a long list of printed circuit boards for its latest product release, then each board will need to be designed as a custom product by an experienced and professional printed circuit board company.
If you go back and consider that staggering amount of products that utilize printed circuit boards, and realize that all of those boards are custom designs, you can start to see why printed circuit board manufacturers are so busy. The demand for these boards is starting to outpace the cash flow for many manufacturers because of past due invoices. In order to meet growing customer demand, many printed circuit board manufacturers are forced to find cash flow solutions that involve bank lending. Bank lending is unpredictable because the company never knows just how much the bank is willing to lend and bank lending increases debt by adding interest and service charges to an already burdened bottom line. There has to be a better way for printed circuit board companies to get the cash flow they need to meet client demand.