New_Jersey_state_flagNew Jersey is a state of many contrasts. The northeastern part of the state is virtually an extension of City, with hundreds of thousands of residents commuting to work in Manhattan every day. Southwest is home to huge numbers of people working by day in Philadelphia. The 120-mile Atlantic shoreline helps make tourism the state’s number two industry. And fertile vegetable and fruit farms throughout the state give it the nickname of the Garden State. There are many industries that can benefit from using in New Jersey.

Factoring in New Jersey

Companies in New Jersey also are a study in contrasts, with huge multinational corporations and small family-run businesses. While big companies have the deep financial reserves and access to traditional bank credit to expand their operations and their market shares, small companies and especially start-ups can struggle with cash flow challenges. Some of those companies many not qualify for bank loans, due to weak or too-brief or lack of collateral.

To increase their cash flow and set aside funds for expansion, many businesses in New Jersey are working with factoring companies – companies that purchase a business’s invoices, or accounts receivable – to bridge the gap between when work is completed for a customer and when that customer pays its bill. Invoice factoring lets the business pay its salaries and overhead expenses on time, without incurring debt. It also creates those reserves needed to grow the business.

New Jersey Factoring by Industry

  • Manufacturing
  • Tourism
  • Agriculture
  • Oil and natural gas refining
  • Chemical production

Some of the best Factoring Companies in New Jersey

View the above list of factoring companies in New Jersey for more information.

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