The state of Arkansas was “discovered” by both Spanish and French explorers, has been a part of both the Louisiana Purchase and the Missouri Territory, and belonged to both the Confederacy and the Union. However, today it is a state with its own personality and imprint. For instance, the state is home to the nation’s only active diamond mine as well as the newest major art museum in the country, the huge Crystal Bridges Museum for American Art, built to house Walmart heiress Alice Walton’s personal collection. There are many industries that can benefit from using factoring companies in Arkansas.
Factoring in Arkansas
Businesses in Arkansas run the gamut from the hundreds of Walmart-related vendors, distributors, and suppliers to countless small mom-and-pop businesses located in little towns. While companies orbiting Walmart have their own business challenges, other companies in the state can experience a variety of financial ups and downs during the time between when they finish a job and when they get paid. Sometimes waiting 30, 60, or even 90 days for customers to pay can hold back companies that are ready to grow their business. Invoice factoring can provide a fast and affordable way to bridge that gap.
Factoring companies purchase their clients’ invoices and pay them the majority of their invoice amounts upfront. After collecting on those invoices, the factoring companies send their clients the balance of the amounts, minus a small factoring fee. The transaction involves no borrowing or incurring debt. Companies in Arkansas find that factoring is an easy way to speed up their cash flow. It allows them to use the money that has been sitting in their accounts receivable for their overhead expenses or business growth.
Arkansas Factoring by Industry
- Manufacturing, especially food production
- Lumber and wood products
- Agriculture, including cotton, rice, and soybeans
- Transportation and distribution
Some of the best Factoring Companies in Arkansas
View the above list of factoring companies in Arkansas for more information.