With its rocky Pacific Ocean coastline, rugged mountains, and rushing rivers, Oregon is known for its natural beauty, which draws tourists from around the world. The state’s strong quality of life also draws businesses of all kinds, from small high-tech startups to large wholesale distributors. There are many industries that can benefit from using factoring companies in Oregon.
Factoring in Oregon
Any business can run into financial challenges from time to time, even in a state with a strong economy like Oregon. When those challenges revolve around waiting weeks and months for customers to pay their invoices, many companies turn to a proven cash flow solution: invoice factoring. The companies can receive payment upfront on their invoices and use those funds for overhead expenses or whatever is needed.
Many Oregon firms find that speeding up their cash flow in this way enables them to grow their business by hiring more staff, purchasing more inventory, expanding their facilities, or spending more on sales and marketing. The good thing is that factoring provides them dependable funding when they need it, without incurring debt. New companies in Oregon without long credit histories or significant collateral may not qualify for traditional bank loans, so factoring is especially attractive to those businesses. A factoring company looks at a company’s customers’ creditworthiness, rather than the client’s credit report.
Oregon Factoring by Industry
- Agriculture, especially hay, nursery plants (flowers), and sod grasses
- Lumber and wood products
Some of the best Factoring Companies in Oregon
View the above list of factoring companies in Oregon for more information.