Manufacturing Business Loans

• Get manufacturing loans for your small business.
• Specialized loan options for manufacturers in need of capital.

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Get the Best Manufacturing Business Loans

The manufacturing businesses are driven by several factors such as the economy and the execution of the products they are manufacturing. To operate an efficient manufacturing business, you must have excellent equipment, a proper supply chain, an organized operational process, and an efficient and accountable workforce so a quality product can be delivered.

A Manufacturing company knows that having the appropriate manufacturing business loans are an essential part of the business plan to help the manufacturing business function and operate correctly. Whether it’s getting more efficient machines or purchasing supply in bulk at a discount, a manufacturing loan may be necessary to maintain and build up companies.

Searching for the right Manufacturing financing can be a complex endeavor — but we make it easy to find a loan. Regardless of credit scores, credit history, business needs, payment terms, and more — we’ll be your lending partner to help improve revenue or improve business operations all around. Small business owners need a lender they can rely on; that’s where we can help. We make the loan approval process a breeze, with our network of many lenders and quick and easy ways to get cash flow fast to help out with various business expenses and more.

Whatever comes next in the manufacturing industry, as your financing/loan marketplace, we have the manufacturing business loans and other financing products in our network of lending institutions and alternative lenders you need to grow and expand. AdvancePoint Capital is the manufacturing business loan provider that can help.

What is a Manufacturing Business Loan?

There are many common options to secure financing for a manufacturing business including business loans, business lines of credit, equipment loans, SBA loans, invoice factoring and other alternatives depending on your needs. The qualifications and terms vary significantly and the each have there own unique features.

Searching for the right Manufacturing financing can be a complex endeavor — but we make it easy to find a loan. Regardless of credit scores, credit history, business needs, payment terms, and more — we’ll be your lending partner to help improve revenue or improve business operations all around. Small business owners need a lender they can rely on; that’s where we can help. We make the loan approval process a breeze, with our network of many lenders and quick and easy ways to get cash flow fast to help out with various business expenses and more.

Whatever comes next in the manufacturing industry, as your financing/loan marketplace, we have the manufacturing business loans and other financing products in our network of lending institutions and alternative lenders you need to grow and expand. AdvancePoint Capital is the manufacturing business loan provider that can help.

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AdvancePoint Capital makes the loan application process a simple, straightforward experience.

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How do Manufacturing Business Loans Work?

Advancepoint Capital has put together the most popular business funding options for manufacturing businesses based on over 10 years of experience providing funding to this industry. We combined many factors, such as need, qualifications, rates, and terms to come up with the best options in our lender's network

Business Line of Credit

Business Line of Credit for Financing Manufacturing Businesses

Small businesses love the business line of credit because you can draw money on demand without contacting the lender. Manufacturing companies use lines of credit to expand production capacity, improve supply chain logistics, obtain working capital, hire workers, product research, and help fuel continued growth. Amortized over 12, 18, 24 or even up to 36 months depending on lender and qualifications.

  • Revolving credit facility
  • Rates starting at 1% simple interest per month
  • Flexibility to draw up and draw down on funds on demand
  • Only pay interest on balance

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Long-Term Manufacturing Business Loan

Long-Term Manufacturing Business Loan

Manufacturing businesses use long-term business loans to purchase equipment, commercial real estate loans, and large expansions. These reasons come at large costs so long-term loan financing makes sense to keep payments affordable against cash flow.

  • Terms range from 2 to 10 years
  • Rates that start at prime + 2.25%
  • Affordable monthly payments

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Short-Term Business Loan

Short-Term Manufacturing Business Loan

Short-term loans are used by the manufacturing industry to provide a stopgap against cash flow problems. This product has less paperwork and is acquired faster than other accessible financing solutions.

  • Terms that range from 3 to 18 months, typically 12 months or less
  • Streamlined application process with limited documentation needed
  • Business funding is as little as 1 day

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Equipment Financing

Manufacturing Equipment Financing

Equipment loans for manufacturers are an important product to access capital. Equipment and machinery are at the core of most manufacturing businesses. Having financing solutions lined up for purchases is a must with industry growth trends.

  • Equipment is used as collateral for the financing
  • Can be in the form of an equipment lease or equipment loan
  • Terms that range from 2 to 7 years

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SBA Loan

SBA Loans for Manufacturing Companies

An SBA loan is a great long-term business loan solution as financing terms are very attractive. Small businesses prefer SBA loans, but the approval process can be difficult and the paperwork and documentation can be lengthy and time-consuming. If you meet the qualifications and have the time it's important to consider.

  • Rates that start at prime + 2.25%
  • Terms that range from 5 to 10 years, up to 25 with real estate
  • Comprehensive application process
  • Requires good to excellent credit

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Invoice Financing

Invoice Factoring / Financing for Manufacturing Companies

Invoice factoring is a popular product to improve cash flow at a relatively low cost. Invoice factoring offers are not a loan but an advance on an invoice a manufacturing company issues to a client in advance of payment.

  • Advance on an invoice at time of issuance.
  • Low factor costs starting at 1% of face value of invoice.
  • Credit of issuer of invoice not a factor.

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Small Business Cash Advance

Business Cash Advance for Manufacturers

Small businesses use business cash advances when they have some impairments to traditional financing such as credit issues, cash flow problems, time in business, financial statement issues, or other reasons that a traditional loan won't approve.

  • A revenue based funding solution, not based on profits
  • Flexible repayment with a % split of future sales
  • All credit considered from excellent to poor

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Benefits and Common Uses of Manufacturing Business Loans

Cash Flow/Working Capital

Managing cash flow can always be tricky. Manufacturers are always chasing invoices from their customers to get paid. Sometimes, the investment in a new client with equipment, supply, and labor cost before a manufacturing company gets paid can be many months. Therefore, adding new projects and clients can be a real challenge without access to business financing. It's important to have a financial solution available to solve problems like receivable delays impacting cash flow, shortage of supply to complete work orders, or handling any operating expense that may come up from time to time.

Benefits of Acquiring Manufacturing Business Loans
Owning Your Manufacturing Equipment

Acquiring Manufacturing Equipment

Manufacturing equipment is the foundation for a manufacturer. New equipment can change operations and improve efficiencies. The manufacturer’s process can be completely revamped due to new equipment creating significant efficiencies and cost savings in the long run. Plus, you can utilize equipment as collateral to obtain a loan for operational costs and additional capital. If there’s one industry that thrives on equipment and machinery, it’s manufacturing.

Hiring Employees and Managing a Growing Team

Working capital loans offer a great way to get the working capital small business owners need to keep operations rolling, hire workers, improve job growth and provide peace of mind to the small business owner knowing that payroll funds will always be available.

Benefits of Manufacturing Business Loans

Making Payroll

When you can't pay your employees, you're in trouble. A business line of credit or merchant cash advance will help you make payroll so you can keep your doors open even when finances are tight.

The Pro's and Con's of Business Financing for Manufacturing

When considering get financing for your manufacturing business its important to weigh the pro's and con's. Make sure you evaluate the costs verses the benefits before accepting an offer.

Pro's

  • Provides capital for manufactures for various uses such as equipment, inventory, cash flow and business expansion.
  • A variety of business financing products with unique features that best serves specific needs
  • Financing preserves cash reserves of a business
  • Builds business credit

Con's

  • Adds debt on to business and balance sheet
  • Increases monthly expenses with debt payment(s)
  • You pay additional costs and interest with financing

How to Qualify for a Manufacturing Business Loan

When qualifying for business loans for your manufacturing business the most common qualifications lenders look for include the following;

  • Credit- Its important to review both personal and business credit as lenders consider both important factors in the credit decision. Its highly recommended to provide any credit repair possible before you apply.
  • Documentation- Make sure your business is properly registered with the Secretary of State with up to date filings and good standing.
  • Business Information- You will need to provide both legal name and any "doing business as" names for the business along with Federal Employment Identification Number (FEIN), business address, start date, and business description.
  • Business Owner Information- Any business funding application will also ask for personal information of the business owner(s) including social security and date of birth for the credit check.
  • Financial Statements- Almost all business financing options will require some paperwork to prove ability to repay whether it be bank statements, tax returns, profit and loss, balance sheet, accounts receivable/accounts payable aging reports or other pertinent documents.
  • Supporting Documentation- You may be asked to prove identity, verify bank statements, tax returns, ownership or clear any information discovered in business searches.

Manufacturers should make a considerable effort to work on all of the above qualifying factors when considering and business financing BEFORE you apply.

How to apply for a business loan for my Manufacturing Company?

Not all business funding options have the same application process due to your lender, product selection and qualifications. The following is the most common steps to apply for business financing for a manufacturing business.

Step #1: Determine use of money and product- Always consider what you are going to use the money for and what product or products best serve the need.

Step #2: Pick Lenders and/or Business Loan Originator- Choose a lender or originator with verifiable good reputations, customer service, product diversity and competitiveness.

Step #3: Initial Interview and Qualifications- The initial interview is a very important step because it saves a lot of time by determining qualifications, product discovery/availability and the likelihood of securing financing.

Step #4: Fill out Application- Fill out application completely with all required information

Step #5: Supply Supporting Documentation- Provide all necessary documentation require per product selected to receive a conditional approval.

Step #6: Receive and Consider Offer(s)- Receive offer in writing via a term sheet and/or disclosures that discusses product features, terms and conditions. Shop and compare to make sure you are getting the best product and terms for your needs.

Step #7: Select Offer(s)-Once you have done your homework and decided to select an option you will need to provide closing stipulations and sign an agreement to fund.

Step #8: Provide Funding Conditions- Closing stipulations and signed agreement(s) are provided for final underwriting to get clear to close.

Step #9: Acquire clear to Close- Once underwriting clears all closing stip's and verifications and sets up repayment process, you will receive a clear to fund

Step #10: Receive Funds- Funds are received by either wire or ACH within same day to 24 hours

Once you receive funds your repayment process begins and your off and running. The SBA loan process and invoice factoring have a different process than most other products so consult your business funding originator for details. Always consider all options and compare offers before you close on any business funding for your business.

Types of Manufacturing businesses we have Served

We've served a range of manufacturing businesses including the food industry, machinery manufacturers, and more. We have helped manufacturers get manufacturing business loans with bad credit and no credit. If you belong to any of the following business areas and need a loan, we're here for you:

  • Food Manufacturing
  • Machinery Manufacturers
  • Precision Manufacturing
  • Medical devises Manufacturing
  • High Tech Economy Manufacturers
  • Electrical Harnesses Manufacturers
  • and many more...

Additional Resources

Small Business Administration - The SBA is establishing a manufacturing office for those manufacturers who sell to the Federal government.

Community Reinvestment Fund- The Community Reinvestment fund is a non-profit resource that provides funding resources to manufacturers.

Apply for a Manufacturing Business Loan Today at Advancepoint Capital!

Frequently Asked Questions