Receivables factoring in Denver
Denver is a growing and populous metropolitan area with many companies in the high-tech industry. GoDaddy, DirectTV and Quark are just a few technology companies with offices in Denver. Federal defense programs and space technologies are also big with corporations Lockheed-Martin and Ball Aerospace & Technologies having operations in Denver.
Denver’s economy is thriving due to the large supply of educated millennials in the area. Since traditional financing is difficult to get, start-ups and small businesses experience a big need for invoice factoring services, Industries such as trucking, technology, manufacturing and staffing are excellent candidates for invoice financing.
Factoring companies serve Denver and its surrounding cities of Boulder, Fort Collins and Colorado Springs. Business across the area enjoy the many benefits offered by accounts receivable factoring. Invoice financing improves your cash flow because you don’t have to wait 30, 45 or 60+ days to collect your receivables.
Bank financing is difficult for small businesses so invoice factoring is a very attractive alternative. Your business doesn’t need 2 to 3 years of profitability and financial history that banks typically require. In addition, a Denver factoring company provides you immediate cash flow without going into debt.
Colorado factoring companies often process your application within 2 to 3 days, so you can get your initial funding within 5 to 10 business days as opposed to several months that banks typically take to approve a traditional loan.