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Success Stories

Success story: business invoice factoring for a machinery & equipment provider

By | Success Stories

At Summar we offer a business invoice factoring service that is tailored to fit each individual client’s needs, ensuring success and peace of mind.

A client called Summar asking for help fulfilling a purchase order. This particular client provides drilling equipment for oil companies in various countries in Latin America, and has been in business for a couple of years. The client has a successful history of transactions with his customers, which allowed him to gain their trust. He started bidding on larger orders and was lucky enough to obtain a few, which would require additional capital to be able to fulfill. Read More

How factoring helped a frozen seafood processor and exporter from Central America

By | Success Stories

Summar received a call from a company that needed cash on hand in Latin America that required two services:

  1. Get funding from their sales invoices from both a US client and a Chinese client
  2. Get cash or an advance twice a year in the middle of their peak seasons to be able to pay local fisherman for the product being delivered to the plant.

The client explained that his business was seasonal and he needed to have sufficient availability of funds to be able to purchase as much product, as it was available to him, when required by the fishermen so that he could in turn process the product and convert it into sales. If he didn’t have the cash available to purchase the product, it would just go to his competitors who will seize the opportunity and purchase the products instead of him. Read More