Centuries of history and a vibrant business climate converge in Pennsylvania. The Keystone State’s economy is more diverse than ever before, with its leadership in steel production and iron and coal mining as well as its agricultural foundation and financial sector. Both Philadelphia and Pittsburgh are commercial centers, and also home to many international corporations and banks. Philadelphia is known for the Liberty Bell and Independence Hall, where the nation’s founders assembled to build the new country’s government, but the city also benefits from its proximity to the business pulse of New York City. There are many industries that can benefit from using factoring companies in Pennsylvania.
Factoring in Pennsylvania
Companies in Pennsylvania share similar challenges with companies across the country, including maintaining a constant cash flow. Many businesses of all sizes and industries in the state are turning to invoice factoring for an efficient way to increase cash flow. Factoring enables business owners to receive payment upfront on their accounts receivable rather than wait for their customers to pay in 30, 60, or even 90 days.
The benefits of factoring accounts receivable are numerous, including rapid approval and funding, eligibility regardless of credit history or collateral, and receiving funding without incurring debt. Savvy Pennsylvania business people who partner with a factoring company can keep up with their fixed expenses as well as use the funds to hire new staff, buy new equipment and inventory, expand their facilities, and otherwise grow their businesses. In addition, the factoring company takes on the often arduous job of collecting on those invoices, freeing up the owner’s time for management, marketing, and other key tasks.
Pennsylvania Factoring by Industry
- Steel, iron, and coal
- Oil and natural gas
- Chemicals and pharmaceuticals
Some of the best Factoring Companies in Pennsylvania
View the above list of factoring companies in Pennsylvania for more information.