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Receivables factoring in the Houston area
The Greater Houston area is the fastest growing metropolitan area in the nation, with more than 7 million people. The Houston area is the seventh largest metropolitan economy in the U.S. The area’s economy is based primarily on energy, specifically oil. The Port of Houston leads the country in international cargo tonnage and second in total cargo.
The Houston metropolitan area is home to 31 Fortune 500 companies which is the fourth-largest, behind New York, Chicago and Dallas. Companies in and around the city include Phillips 66, Kinder Morgan, Halliburton and ConocoPhillips. Most of the fortune 500 companies are energy companies, but they also include Sysco and Waste Management.
Houston is known as the “Energy Capital of the World”. It’s home to 3,800 energy-related companies, 500 oil and gas exploration and production companies, 150 pipeline headquarters and 9 refineries. The Houston area is the largest manufacturer of petrochemical products in the world, including fertilizers, insecticides and synthetics. It leads the world in oilfield equipment construction.
Businesses in the Houston area use receivables financing to maintain control of their working capital, while helping grow revenues and profits. Invoice factoring allows companies to get their cash as soon as they bill their customers for services. Rather than waiting 45 to 60+ days for customers to pay invoices, companies receive immediate cash advances from their factoring company.
Houston has many factoring companies within the city, as well as surrounding cities such as Bellaire, Humble, and The Woodlands. Flash Funding and Crown Financial are both family-owned factoring companies in the city of Houston. Amerisource Business Capital has been providing invoice factoring services since 1984. FactoringClub can match your business with the perfect Houston-area factoring company for your particular needs.