Located in the far northwest corner of the nation, Washington State features the beauty of the rugged Pacific coast, majestic mountains, huge forests, white-water rivers, and flat farmlands. With the cosmopolitan city of Seattle as its business center, the state is also one of the nation’s most international locations. Although it is an ocean away from Pacific Rim countries, the state’s western region is strongly influenced by business opportunities in Japan, China, Hong Kong, and Korea, and is heavily populated by Asian Americans. There are many industries that can benefit from using factoring companies in Washington.
Factoring in Washington
With low unemployment and high salaries in the state’s technology and financial sectors, business is booming in the Evergreen State. However, many companies ranging from small start-ups to privately held family businesses can encounter cash flow challenges when they need to wait 30, 60, or even 90 days to get paid for work they have completed.
An affordable solution to bridge the gap between sending out an invoice and receiving payment is accounts receivable factoring, also called invoice factoring. A factoring company “buys” its client’s invoices and pays the client a high percentage of the amount upfront, with the balance going to the client when their customers pay. Factoring lets companies keep up with fixed expenses and salaries and set aside funds for business development and expansion, all without incurring debt. More companies in Washington are turning to this convenient alternative funding source and using the infusion of cash to grow their business.
Washington Factoring by Industry
- Manufacturing, especially shipbuilding, aircraft, and missiles
- Agriculture, especially Timber, Fruit, and Livestock
- Finance and Banking
- Commercial Fishing
Some of the best Factoring Companies in Washington
- Access Business Finance, LLC
- Allegiant Business Finance
- Dash Point Financial Services
- Davis Commercial Finance
- DB Squared
- Neal Freeman Investments
- Orange Commercial Credit
- SabTera Capital
- Universal Funding Corporation
View the above list of factoring companies in Washington for more information.