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01-18-2018, 03:22 PM #1
Reputation points: 269
- Join Date
- Oct 2015
- Posts
- 66
It's a strange sales cycle. They receive a PO and with it a 50% deposit. The manufacturer takes anywhere between 20-30% of that deposit to build the product in China. The time it takes to build on that PO could be 1 week all the way out to 6 months. Once the order is built he then sends a final invoice to the hotel, this is his majoirity customer base, major hotel chains, which at this point he'll receive the remainder due. He wont send the product to the customer until he receives the outstanding 50% due. It's hard to determine when and but what tangible form the customer becomes the owner of that product . The business owner call his AR " in transit"
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01-18-2018, 03:58 PM #2
Reputation points: 338265
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,473
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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01-18-2018, 07:31 PM #3
Reputation points: 68233
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
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01-19-2018, 08:08 AM #4
Reputation points: 338265
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,473
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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