Factoring for ImportersImporters and imports are a huge part of the US economy – $2.275 trillion worth in fact. The largest is industrial machinery and equipment at $731 billion and about half is crude oil and related oil, gas and energy products.   Other large industrial imports are iron and steel products, chemicals and fertilizers.

The second largest import capital goods come in at $731 billion which includes computers, computer accessories, and telecommunications equipment.  Consumer goods are 3rd with $517 billion. Apparel, pharmaceuticals, cell phones, and toys.

Services are $437 billion which include private services, primarily financial services, travel passenger services, other transportation services and passenger fares. The U.S. imported $42 billion in royalties and license fees services.  The U.S. Government service imports totaled $31 billion most of which was defense.

Automotive vehicles, parts, and engines come in at $297 billion. Food feeds, and beverages including fish, fruit, and vegetables came in as $110 million.

(Source: U.S. Census, Exhibit 6 – Imports by End-Use Category)

Importers rely on having steady cash flow in order to run a profitable operation. Often import companies have to wait 30-60 days to get paid. Smaller importers can be particularly impacted because they are less likely to obtain extended credit terms from their overseas suppliers. As long as the importer is working with buyers that are creditworthy receivables factoring and factoring for importers can be an excellent solution.

Import factoring can be very effective for international traders that import large shipments of goods. BusinessCash has the experience and knowledge required to deal with the complexities of factoring importers.

Fast funding for Importers! Call 866-598-4295 or use the fast, safe & secure online-funding application.

Rating: 5.0. From 1 vote.
Please wait...

Back to Top