What is progress billing?
Progress Billing: Invoicing in stages as milestones are met on a long-cycle build.
How it works
Common in aerospace, industrial machinery, and custom fabrication. Not every factor advances against progress bills—the ones that do require the milestone to be accepted by the customer before advance.
Where you will run into it
Progress Billing comes up most often in purchase order financing conversations. See how purchase order financing works, including real cost ranges and timelines.
Related terms
Progress Billing questions
Invoicing in stages as milestones are met on a long-cycle build.
Common in aerospace, industrial machinery, and custom fabrication. Not every factor advances against progress bills—the ones that do require the milestone to be accepted by the customer before advance.
Funding Requirements Checklist for US manufacturers
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