The state of Iowa is known for its extensive farmlands. There are miles of rich and fertile black soil enriched by prehistoric glaciers and flooding from the wide Mississippi to the east, and the meandering Missouri to the west. Selling more than $10 billion in crops and livestock each year, the state leads the nation in corn, soybean, and hog sales. However, today the Hawkeye State’s manufactured goods come in at double that amount annually. There are many industries that can benefit from using factoring companies in Iowa.
Factoring in Iowa
Just as farmers face good years and bad years, based on the weather and global markets, companies in all industries in Iowa can go through up and down cash flow cycles. Sometimes companies could ease their financial challenges if they didn’t have so much of their cash tied up in their accounts receivables. Other companies that are doing well are ready to expand but need an infusion of cash to purchase more inventory, hire more staff, or expand their facilities. Factoring is an alternative funding solution that can help in both situations.
A growing number of companies in Iowa are choosing invoice factoring to increase their cash flow and maintain a more predictable revenue stream. The company can sell their invoices to a factoring company and receive payment right away instead of waiting 30, 60, or even 90 days for their customers to pay. Since factoring pays for work already completed, the factoring company’s client receives cash quickly without taking out loans or incurring debt. Factoring is becoming an increasingly popular funding source among farmers and all kinds of business owners in Iowa.
Iowa Factoring by Industry
- Manufacturing, especially food products
- Agriculture, especially corn, soybeans, and livestock
- Natural resources, including limestone, coal, and gypsum
Some of the best Factoring Companies in Iowa
View the above list of factoring companies in Iowa for more information.