Accounts Receivable Factoring: Powering Growth for Personal Electric Mobility Devices
As demand surges for eco-friendly personal electric mobility devices like e-bikes, scooters, and hoverboards, businesses in this industry face unique challenges. Managing cash flow during peak seasons or rapid growth is crucial to staying competitive. That’s where accounts receivable factoring provides a reliable solution.
The Challenge: Bridging the Gap
One of Star Funding’s clients, a leading supplier of personal electric mobility devices, found themselves reaching the credit limit with their current lender just as they headed into a busy season. With high demand and outstanding orders from retail partners, they needed a quick and flexible financial solution to maintain momentum.
The Solution: $7M Factoring Facility
Star Funding stepped in to offer a $7 million accounts receivable factoring facility. This strategic move acted as short-term bridge financing, ensuring the company had immediate working capital to cover supply chain demands, meet payroll, and invest in expanding inventory.
Why Factoring?
Accounts receivable factoring converts unpaid invoices into cash, giving businesses quick access to funds without taking on new debt. By partnering with Star Funding, this supplier could:
- Maintain Cash Flow During High Demand: Ensure production and fulfillment kept pace with seasonal surges.
- Reduce Financial Pressure: Factoring offered a seamless bridge until their existing lender could extend more credit.
- Leverage Flexibility: Star Funding’s ability to adapt to short-term and special situations proved critical for navigating time-sensitive financial needs.
The Star Funding Advantage
At Star Funding, we pride ourselves on being nimble and responsive. We understand that businesses can’t afford to wait during critical growth phases. With our factoring solutions, companies like this leading mobility device supplier can stay ahead of demand, innovate, and grow without delays.
Whether it’s for seasonal needs, rapid expansion, or unique financial challenges, accounts receivable factoring provides the capital you need, when you need it.
Ready to Fuel Your Growth?
Star Funding is here to help your business power through busy seasons and beyond. Contact us today to learn how accounts receivable factoring can work for you.
Because in today’s fast-paced market, flexibility is the key to success!