The Rocky Mountains dominate the landscape throughout Colorado and make it by far the nation’s highest elevation state. More than a thousand of the range’s mountain peaks tower over 10,000 feet high, with Pike’s Peak going 14,000 feet into the sky. Residents and visitors enjoy skiing and snow sports all winter and hiking and camping all summer. There are many industries that can benefit from using factoring companies in Colorado.
Factoring in Colorado
The state is home to many businesses related to tourism, but also companies of all sizes and industries. Any business can also have its peaks and valleys and often many of their financial challenges could be eased by customers’ faster payments. Regardless of a company’s size or longevity, often customers’ long payment terms disrupt cash flow and cut into a company’s working capital. To combat this cash flow crunch, many companies in Colorado turn to factoring, an alternative funding method that provides funding fast.
The companies sell their invoices to a factoring firm, which pays the company upfront for most of the value of each invoice. The factoring firm collects directly from the company’s customers and sends on the balance of the amount, minus a small factoring fee, once the invoice is paid in full. Companies can use this infusion of cash for operating expenses or growing the business with new staff, equipment, inventory, or whatever is needed. Factoring brings capital to Colorado business owners without them having to take out loans and incur additional debt.
Colorado Factoring by Industry
- Service industries
- Natural resources
- Oil and natural gas
- Agriculture, especially cattle, corn, and wheat
Some of the best Factoring Companies in Colorado
- BeneFactor Funding Corp
- CSI Factoring
- Front Range Factoring
- Premier Trade Solutions
- The Invoice Bankers
View the above list of factoring companies in Colorado for more information.