Contract Credit provides invoice factoring services for produce and agriculture distributors under PACA’s guidelines. Our factoring company can make the application a simple process. We are very familiar with the processes and challenges that your business might face in this industry. We also have experience working with Food/Agriculture companies and have knowledgeable staff who is prepared and deals specifically with this industry.
When compared to other lenders and banks, Contract Credit has the advantage of knowing the specific characteristics of the agricultural industry and we make sure to comply with the strict practices and requirements established by PACA. Factoring companies have been helping the produce industry by providing financial solutions even when banks would not grant them funds.
Businesses experiencing one or more of the following:
Companies normally run into cash flow issues when they start selling produce on credit terms, this makes it challenging to keep up payables to growers.Our produce clients have cash flow problems because growers receive cash when the delivery is made or picked up, and many times customers also want credit terms of 14 to 21 days. This causes a struggle to produce companies to keep up with financial responsibilities to keep their company moving forward while waiting to get paid.
Some of the benefits invoice factoring provides are:
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