CPG businesses face a myriad of financial challenges. From managing operational cashflow to securing quick access to credit, you need to find a steady source of cash to fund your business.

Quick Access to Credit

For CPG businesses, access to credit can often be a bottleneck in operations. Traditional lending processes are often slow and cumbersome, making it challenging for companies to respond swiftly to market demands. Companies like Aion addresses this challenge by providing quick and convenient access to credit by specifically working with CPG companies.

By using their All in One Fintech Platform, Aion assesses the credit worthiness of CPG companies in real-time. Whether it’s funding for new product launches, expanding distribution channels, or managing cash flow during seasonal fluctuations, Aion empowers CPG businesses with the capital they need to thrive.

Efficient Handling of Operational Finances

Getting clear insight into your operational cashflow is one of the best things your can do to get a handle on your finances. Audit your finances quarterly to make sure you’re maximizing your cashflow. Here’s how:

Accounts Receivable:

Distributors and retail customers are notorious for paying late and for deducting fees. Make sure you’re following up for payment before the due date. Being pleasantly persistent will help make sure you’re top of mind for payment.

Accounts Payable:

negotiate terms with vendors, try to extend to net 30/45/60 to give yourself more time to pay. For vendors, they may not like it but it’s better than not getting paid at all.

Credit Card Expenses:

Review your expenses monthly and cut out any software, tools, and services that aren’t driving direct value to the business right now. Most subscription services let you cancel and restart services at any time. Have a service that’s crucial to your brand? Consider paying annually instead of monthly for up to 20% savings.

Wrap Up

Following these tips will help you navigate the financing crunch the CPG industry is going through right now and ensure your brand has the cash on hand you need to run your business.

Sign up for a bank account for free and access credit lines from $10,000 to $5,000,000. As a special offer for the Foodbevy community, Aion is completely waiving their fee of $99/month to access credit lines.