Firearms are big business in America. This includes but is not limited to shotguns, apparel, pistols, rifles, handguns, law enforcement products, hunting equipment, firearm safety and security products and ammunition. The total economic impact is well over 37 billion dollars. The U.S. manufacturers more firearms than any other nation plus is the largest importer of handguns, rifles and shotguns. Manufacturers, distributors and suppliers need cash flow in order to take advantage of the rapid growth in the industry. They need to hire more employees, meet payroll, buy raw material and machinery.
There is so much demand that gun manufacturers have their production going 24 hours a day and are looking at ways to increase capacity. Hornady ammunition, makers of some of the most popular self-defense ammo for concealed carry applications, said, “We’ve been steadily growing our production for a long time, especially the last five years. We’ve added presses, lathes, CNC equipment, people and space. Many popular items are produced 24 hours a day. Several hundred Hornady employees work overtime every week to produce as much as safely possible.”
Invoice factoring, work in process funding, purchase order financing and credit protection are all great funding options for the firearms industry. These funding options are based on your clients credit worthiness, not your own companies. This opens up funding to the unbankable because of IRS issues, concentration issues, starts-ups, turnarounds and other challenging situations. You can receive up to 95% of the invoice amount within days of starting the application.
If you would like to discuss your working capital or credit protection needs, please call 888.400.5931, e-mail us to the right or chat with us now.