Supply Chain Finance
You hear it over and over; we have supply chain issues and may not have your item when you expected it. New automobiles are in short supply and the prices of used cars are up 30 percent. A gun cleaning supplier recently noted that they overbought early to avoid the crunch, but a smaller scale producer of baby formula was frustrated when delivery of the newest batch of ingredients was delayed causing a chain reaction slowing orders and product shipments. Where does it end? It ends with the right supply chain finance.
Americore Now Offers Supply Chain Finance Solutions
At Americore we think we found a solution for many of our clients and others who qualify. Americore is helping clients stock up to break the supply chain choke hold. This supply chain finance program is designed for businesses in the United States who import or export their products. If you are frustrated by a lack of employees, the shipping lines driver shortage and other broken links in your supply chain we have solutions.
Working Capital to Solve Supply Chain Issues
Drip Capital is a digital trade finance company based in Palo Alto, California. Drip offers working capital to small and medium sized companies engaged in cross-border trade using technology and data analytics. These supply chain finance solutions cover a wide range of business imports and exports. Focus is on things like frozen foods, Agri-commodities and chemicals. Yet it also covers other time sensitive or seasonal products like readymade garments, fabric and yarn, leather goods and more. What we cannot help with are things like fresh produce, fresh flowers, fine gems, jewelry or explosives. If your products have a 6 month shelf life, due to “best by” dates or fashion cycles Drip Capital might be able to help you. As long as it makes sense, Drip Capital offers supply chain finance to help break the supply chain chokehold.
Geo-Focus
Businesses operating in the US have an advantage, since DRIP is focused on import/export businesses in the US and nearby countries such as Canada or Mexico. There are some qualifications to meet. Your business must be operating in the US or Canada for at least two years. You need to have imported at least six shipments to US or Canada in the last twelve months. If that fits your business read on…
Dollar Qualifiers
Keep in mind this is a program that bases underwriting on data and analytical technology. If your annual sales of $1 million. Net worth should be at least $100,000. The financed amounts are relevant to current cash flow statements and business need. Drip usually charges an interest rate and/or small transaction fee of 0.4% to 1% per month small transaction fee of 0.4% to 1% per invoice. Credit is usually extended for 30-90 days.
The application process is comparatively short. That means you will know quickly whether any of Americore’s supply chain solution programs can end your supply chain nightmares. At Americore, we are constantly searching out better solutions for your needs. Contact us today to open a discussion. The conversation costs you nothing, doesn’t change your team by one person, but could save you thousands, or millions of dollars.