In business since the 1990s, this manufacturer has utilized factoring since its inception. Unfortunately, their current factoring company was experiencing significant turnover and causing a negative impact on their relationship.
In addition to offering a stable, bank-operated home, The Southern Bank analyzed the manufacturing company’s receivables and current factoring fee schedule and was able to identify significant savings opportunities.
With a new factoring company in place, the relationship between the manufacturer and their customers greatly improved. In addition, the manufacturer was able to save well in excess of 30% on their previous factoring costs.