We Offer Work in Process (WIP) & Production Financing to US & CA Based Manufacturers and Are One of the Few Non-Bank Lenders That Offers WIP Financing.
What is WIP? Work in process (WIP) is the part of inventory that is currently being “worked on” and is yet in the production process. Work in progress is a stage in between the raw material and finished goods. It is no longer raw material because it has undergone some processing in the production process. It is also not yet finished goods because more processing has to be done to put it into its salable condition. WIP includes the items that are being fabricated or waiting for further processing or in storage.
Leland Capital considers financing Work In Process if the client’s product is pre-sold to a credit approved customer and we are comfortable with the manufacturing process. The client is not buying a finished product. He is instead buying various components, and either sending them to a manufacturer for assembly, or assembling the product himself. In either case we can buy the components for our client.