For more than a century, the state of Wisconsin has a proud history of leading the nation in enacting laws that protect and support a variety of individuals, including dependent children and those who are blind, elderly, unemployed, and disabled. It is also a state with a strong foundation of independent businesses, ranging from family-owned farms to large corporations. There are many industries that can benefit from using factoring companies in Wisconsin.
Factoring in Wisconsin
Regardless of the size and industry of the business, any company can encounter times when they have bills to pay, but they have to wait for payments from customers. To bridge that gap between completing their work and receiving payment on their invoices, many businesses in Wisconsin turn to factoring those invoices.
How this works is the factoring company purchases the invoices from its client and pays them a large portion of the amount due upfront. The client can have that working capital in hand, without waiting 30, 60, or sometimes even 90 days to get paid. Then the factoring company collects on those invoices from the client’s customers and pays the client the remaining funds, minus a small factoring fee, when the invoice is paid in full. Wisconsin business owners can meet their overhead expenses, while building a reserve for growth and expansion, all without incurring debt.
Wisconsin Factoring by Industry
- Dairy products
- Agriculture, including vegetables and grain
- Manufacturing, including machinery, automobiles and processed foods
- Paper production
- Tourism, especially water sports
Some of the best Factoring Companies in Wisconsin
View the above list of factoring companies in Wisconsin for more information.