Factoring companies help companies in many different industries minimize their risks and take their businesses to the next level. Business owners in three industries, in particular, can benefit greatly from factoring services.
1. The Transportation Industry
Factoring accounts receivable is the ideal solution for trucking companies that need more working capital. This funding solution is particularly well-suited to the owner-operators and fleet owners who need to be paid upfront and upon delivery to cover fuel expenses, vehicle leases, insurance, and other transport expenses. When you partner with Interstate Capital for factoring services, you will ensure that your drivers always get paid on time and your fuel is covered, even when you’re still waiting for payments from your clients.
2. The Staffing Industry
In today’s work environment, staffing companies need to be flexible. Factoring allows you to stay current on your payroll, workers’ compensation, insurance premiums, and tax payments without incurring short-term debt. Interstate Capital helps owners like you provide timely paychecks to your temporary workers — and you can broaden your client base by taking on clients who require longer payment terms.
3. The Manufacturing Industry
The manufacturing industry took a particular hit from the recession and not all companies are able to stay afloat while they wait for their invoices to be paid. If you are manufacturing products and starting to get worried that your accounts receivable are taking too long to turn into cash, minimize the impact on your business by partnering with a factoring company like Interstate Capital.
If you work with Interstate Capital, you will not only improve your cash flow but you’ll also be able to benefit from our in-house credit department, invoice-preparation team and fully staffed collections group – all included in our great low rates.