Louisiana has one of the richest and most international histories of any state in the nation. As a former colony of France, the state has a colorful combination of French customs and Southern hospitality. New Orleans is a must-see tourist destination for visitors from around the world and famous for its unique cuisine. There are many industries that can benefit from using factoring companies in Louisiana.
Factoring in Louisiana
The discovery of oil and natural gas, both inland and offshore, has made the state an economic leader. The great port of New Orleans on the Mississippi River, which flows into the Gulf of Mexico, makes it a transportation hub as well. Today Louisiana is developing an increasingly diversified economy, with businesses of all kinds.
With seasonal and business cycle changes, many of the businesses in Louisiana can face cash flow challenges. Today more and more of those businesses are turning to factoring. Factoring companies help those businesses speed up their cash flow by paying them upfront for their invoices so they don’t need to wait 30, 60, or event 90 days for customers to pay. The good news is that they receive working capital right away, but they do not incur additional debt. The funds are an advance on payment for work already completed, not a loan that needs to be paid back. Factoring is a funding solution that fits the needs of many Louisiana companies.
Louisiana Factoring by Industry
- Oil and natural gas production and refining
- Agriculture, especially rice, sweet potatoes, sugar cane, lumber, and cotton
- Manufacturing, especially chemicals, processed food, and wood products
Some of the best Factoring Companies in Louisiana
- Aim Business Capital
- Cash Flow Resources
- Gulf Coast Business Credit
- Republic Business Credit
- Thermo Credit
View the above list of factoring companies in Louisiana for more information.