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Receivables factoring in South Dakota
South Dakota’s largest industries are agriculture and trucking. Cattle, corn, soybeans, wheat, and hogs are the most valuable agricultural products in South Dakota. Related industries such as meat packing and ethanol production also have a big economic impact on the state. South Dakota factoring companies help businesses improve cash flow.
Sioux Falls has a good number of transport companies and carriers and it also has factoring companies that specialize in trucking and freight factoring services.
Immediate cash for invoices
Invoice financing improves your cash flow because you don’t have to wait 30, 45 or 60+ days to collect your receivables. You get the cash quicker so you can pay for supplies, payroll and other operating expenses. Small businesses use receivables factoring as a line of credit. Rather than sinking into debt and making loan payments, you can use invoice factoring as a constant flow of cash to operate your business.
Factoring companies can approve your factoring application within several business days. Often, you can get your first funding within 5 to 10 days, making invoice factoring quick and easy.