Like most people in the industry, I get the occasional call from a prospect that needs purchase order financing "urgently" - in a rush. We pride ourselves of doing things efficiently and quickly - but I am always concerned when I get a call from a prospective client that tells me s/he has 4 days to get the deal funded or it's lost.Usually, I decline those opportunities.
The overriding reason why I decline them is that it's hard to predict how quick the due diligence will be. It may be fast if everything checks out. It may be slow if we are missing information or if things don't check out. But we never know until we start.
Ultimately, we may end up with a disappointed or upset client if things don't go quickly or as planned. And we can be certain, that when people are rushing things, things have a higher chance of going wrong.
Weather you are looking for purchase order financing (or factoring), you are better of planning ahead and getting your financing lined up before there is an urgent need. It will prevent you from making rushed decisions when selecting your financing company, or making any rash decisions about a transaction.
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