Oxford Commercial Finance Now Offering Purchase Order Financing as Add-On to its Popular Accounts Receivable and Asset-Based Loans for Businesses
September 19, 2023
By Oxford Commercial Finance (OCF)
PO financing enables importers, exporters, distributors, and manufacturers to temporarily increase borrowing capacity to fulfill orders during periods of accelerated sales
OXFORD, Mich. – September 19, 2023 – Oxford Commercial Finance (OCF), a subsidiary of Oxford Bank ("the Company"), has expanded its line of flexible working capital solutions for small to medium-sized businesses (SMBs) with the addition of Purchase Order (PO) Financing as an add-on to the lender’s popular Accounts Receivable (AR) and Asset-Based Loans (ABL).
PO financing allows OCF customers to “temporarily” increase their borrowing capacity with revolving credit to cover direct costs associated with fulfilling purchase orders. These could include cost of goods, freight, duties, and logistics – products, supplies, and/or fees necessary to ensure that orders are fulfilled and delivered on time.
This type of flexible business financing is vital for manufacturers, importers, exporters, and distributors when the speed at which they are signing new orders is outpacing the company’s existing cash flow, supplier credit, and/or existing revolving lines of credit. Furthermore, PO financing helps build a company’s balance sheet (receivables, cash, and inventory) without giving up equity, making it attractive to certain types of corporations, partnerships, and family-owned entities. Competitive financing rates based upon annual sales volumes, average invoice size, payment terms extended to customers, and borrower’s credit quality.
OCF President Mick Goik says, “PO financing allows companies to pay vendors without delay and quickly fulfill new orders in hand. Our PO financing is designed to be flexible and convenient and work in tandem with our other lending vehicles such as AR financing and ABLs. This eliminates the complexity of working with several business lenders and significantly speeds up the financing process.”
With the backing and treasury management of 139-year-old, FDIC-insured Oxford Bank, OCF assists SMBs to improve cash flow, drive growth, and comfortably scale, with creative and flexible financing options, which now include:
- Accounts Receivable Funding to generate immediate cash flow from accounts receivable
- Asset Based Lending to unlock cash tied up in accounts receivable, inventory and equipment
- Purchase Order Financing to fulfill orders during periods of accelerated sales growth
- Leasing to finance critical equipment
- Term Loans to access flexible funding options to enable business growth
OCF provides financing options for companies across a variety of industries including:
- Alternative energy
- Distributions
- Manufacturing
- Oil & gas
- Service providers
- Staffing
- Transportation
- Wholesale
- Many more
Visit www.oxfordcommercialfinance.com for helpful information on working capital solutions for SMBs.
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Oxford Commercial Finance Corp (“OCF”) is a subsidiary of Oxford Bank, a Michigan headquartered FDIC insured bank. OCF is a full-service commercial finance company providing cash flow financing solutions to small and midsize businesses that may not qualify for conventional bank financing. The Company serves clients across the United States. For more information about Oxford Commercial Finance and its complete line of financial services, please visit www.oxfordcommercialfinance.com.
Except for the historical information contained herein, the matters discussed in the Release may be deemed forward-looking statements that involve risk and uncertainties. Words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Factors which could cause actual results to differ, include, but are not limited to, fluctuations in interest rates, changes in economic conditions of the Bank's market area, changes in policies by regulatory agencies, the acceptance of new products, the impact of competitive products and pricing and the other risks detailed from time to time in the Bank's and Corporation's reports. These forward-looking statements represent the Bank's judgment as of the date of this report. The Bank disclaims, however, any intent or obligation to update these forward-looking statements.
Media Contact:
Hilary McCarthy
Clearpoint Agency for Oxford Commercial Finance
Hilary@Clearpointagency.com - 774.364.1440
Oxford Bank is an Equal Opportunity Lender
