As a small company, we have never been able to get any kind of Line of Credit at a bank with the purpose of purchasing inventory. Although our company is now 4 years old and grossing close to 1/2 Million a year, credit is next to impossible to get unless it’s for a capital improvement.
We will use our line of credit for much larger inventory purchases (for which we’ll get a huge discount from the manufacturer) and not have to sweat getting an entire season’s worth of goods and having to pay in net 30 or 60. We expect both our volume and profit to increase substantially this coming year thanks to First Down Funding.
This post was written by firstdownadmin