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Receivables factoring in Florida
Florida has the fourth largest economy in the U.S. with major industries of international trade, aerospace, manufacturing and biomedical manufacturing. Florida is a large export state for merchandise trade between North America, Latin America, and the Caribbean. More than forty percent of our country’s exports to Latin and South America are exported through the state of Florida.
Florida also has a rich history in the aerospace industry, more than any other state in the U.S. It is home to Cape Canaveral Spaceport and the Cecil Field Spaceport. The state has more private firms licensed to send rockets into space than any other.
Over 200 medical manufacturing companies in Florida specialize in the development and manufacturing of new treatments, over the counter drugs, pharmaceuticals and medical devices.
Florida factoring companies provide services to startups, growth companies and established companies in a variety of these industries including international trade, manufacturing, distribution and trucking. Florida businesses of all sizes and industries use accounts receivable factoring to improve cash flow, because trade credit terms with customers cause slow and limited cash flow.
Invoice factoring can help your cash flow by eliminating your receivable days outstanding. You get paid immediately for services performed or goods sold. Factoring companies advance you money on your invoices based on the credit-worthiness of your customers. They also provide valuable and time-saving credit and collection services.
Accounts receivable financing is easier to obtain than a bank loan, because Florida factoring companies rely on the creditworthiness of your customers. Businesses with poor credit can qualify for invoice factoring and get approved within a few business days. Often, you can get your first funding within 5 to 10 days, making invoice factoring quick and easy.