Factoring or accounts receivable financing makes it possible for business owners to secure the working capital needed for growth; and sometimes even survival, without creating additional debt. Use of factoring in the garment industry inclusive of manufacturers, embroidery, design became very popular especially in the US when receivables were not being paid as quickly as companies were receiving orders. The long sales cycle of the industry necessitated a financing arrangement different from traditional Bank lending practices.

Philmark’s accounts receivable financing programs provide the tool needed to help all kinds of businesses increase liquidity in order to meet payroll or take advantage of supplier discounts. It is fairly well known in the apparel industries but Philmark’s services are faster and more small business friendly from what full service conventional factors offer.

To learn more:

Spot Factoring
Flex-Factor Program

“We have been doing business with Philmark since 1998. Our relationship with Philmark started with a recommendation from the Royal Bank. Since then Philmark has been providing us with operating funds to run our day to day operations. In addition to the funding Philmark collects the funds which save us time and money. They have also provided credit information which has resulted in a major reduction in Bad Debts. Over the years Philmark has been an excellent working partner when times have been tough. They were there for us during a restructuring and made the financing seamless. At this stage, with Philmark’s support we are virtually self financed which would have been more difficult if we were dealing with a bank.”

D.G. – President
Embroidery & Promotional Products