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
See exactly what underwriters actually look at — for factoring, PO financing, equipment, working capital, ABL, and SBA — before you fill out a single application.
- What documents you need for each program
- Typical time-to-fund by program
- Common disqualifiers worth knowing up front
- How Manufactor Finance is compensated — $0 fees to you
Talk to a funding consultant
Questions before you apply? A consultant can walk through this checklist with you, no pressure and no obligation.
Ready to keep production moving?
Start with a quick app or a phone call. We'll tell you exactly what the right program requires. At no charge.
Apply. Fund. Deliver. No obligation.
AI-assistedDepending on live availability, calls may be answered by Mary, our AI Assistant, who takes a message and books a callback. Or email us instead.