While the US and Canada continue to rank high in the aerospace industry, a lot of focus is currently being centered on sustaining liquidity and re-strategizing for growth, both now and in the nearest future.
With no doubt, the aerospace industry, particularly the commercial aviation sub-sector, has been affected negatively by Covid-19 thereby causing disruptions in operations. Concerns for cash flow have risen tremendously, leaving many businesses unsure of possible directions to spur continuity and growth.
While the global outlook for the aerospace industry may have shifted — from forecasts of growth and expansion, to stifled operations and uncertainties—aerospace businesses are still being resilient.
What does resilience mean for aerospace businesses in the midst of reduced cash inflow due to a global pandemic? This implies exploring funding from multiple and alternative sources.
One way aerospace businesses can access funds for growth and continued operations is by leveraging asset-based loans. Many sub-sectors in the aerospace industry rely heavily on capital assets for manufacturing and operations. These assets can be used as collateral to obtain funding and business loans.
The sub-sectors in the aerospace industry characterized by heavy manufacturing operations can focus on growth strategies while utilizing manufacturing finance options. Manufacturing financing offers diverse solutions for cash flow in the form of asset-based loans.
Asset-based loans can help provide funding and capital for your aerospace business to grow and expand especially during a potential cash crunch. Some asset-based loans solutions aerospace companies can explore include: accounts receivable financing, inventory financing, and/or equipment financing.
Asset-based loan solutions for aerospace businesses
Do you operate in the aerospace industry and need funding for manufacturing, supply chain, human capital costs and other operating expenses? Asset-based loan solutions provided by the Accord Financial team are a major growth accelerator.
Accord financial provides various options that would suit whatever funding business needs your aerospace company requires. Considering reshoring your aerospace manufacturing operations or financing new equipment and assets? Explore these asset-based loans solutions with the highly experienced professionals at Accord:
Asset-based business loans: Use your existing or new business assets as collateral to obtain business loans. Focus on what matters right now — continued operations and growth. Leave any cash flow concerns for the Accord team to solve, the right business loans would be structured and customized in little or no time for your specific aerospace business needs. What’s our advantage? Over 40 years of structuring asset-based loans through a streamlined process across the United States and Canada.
Accounts receivable financing: There is a team of experts readily available to walk through your growth and expansion journey with you. Hand-in-hand, Accord provides asset-based financing by leveraging on your existing invoices. You do not have to worry about cash being tied up in your accounts receivable. Your invoices can be factored, providing you with upfront cash to fund and grow your aerospace business.
Inventory financing: Your healthy inventory and work-in-progress balances can also be used to access asset-based loans from Accord Financial through the inventory financing solution.