In 2010, Forbes Magazine named North Carolina the third best state in the nation for business – and the state’s booming and diversified economy remains strong today. With the Research Triangle of high tech companies in the Durham, Chapel Hill, and Raleigh areas and the financial services sector growing in the Charlotte area, the Tarheel State is a hotbed for business. There are many industries that can benefit from using factoring companies in North Carolina.
Factoring in North Carolina
However, even in thriving business cycles, companies of all sizes and industries can experience cash flow challenges. For instance, a technology company can complete a large project for a customer that has consumed many work hours, but the owners must wait 30 or 60 days or even longer for the customer to pay their invoice. This gap between the need to pay staff and fixed expenses every week and the delay in receiving payment can result in layoffs and other cost reductions that can prevent a company from growing.
A growing number of companies in North Carolina, whether they are start-ups or third-generation family businesses, are turning to invoice factoring to ease this cash flow crunch. A factoring company can “buy” the business’s accounts receivable and pay them upfront for the work that they have done. Factoring is a tried and true solution that increases cash flow without incurring debt.
North Carolina Factoring by Industry
- Technology, especially biotechnology
- Manufacturing, especially furniture
- Agriculture, especially tobacco, cotton, and vegetables
- Financial services
Some of the best Factoring Companies in North Carolina
- Aberdeen Funding, Inc.
- Bluesky Capital Corp
- Bull Market Business Funding Solutions
- Financial Carrier Services
- Transport Clearings East
- Treadstone Capital
- US Funding
View the above list of factoring companies in North Carolina for more information.