Receivables factoring in Dallas
Dallas / Fort Worth has the largest number of corporate headquarters in the country with over 10,000 corporate headquarters and two dozen fortune 500 companies. Businesses across the Midwest and along the coasts in California and New York are moving to the business-friendly state of Texas, into cities like Dallas and Houston.
The economic growth in Dallas is incredible for small businesses and startups. Dallas has such a diverse economy with lots of activity in high-tech areas of software and communications. The DFW Metroplex contains about 40 percent of the state’s high-tech workers, with 15+ privately-held companies with more than $1 billion in annual revenues. It’s home to 20 of the Fortune 500 companies.
With growth, comes the need for financing, but most small companies don’t have the history or credit to qualify for bank lending. Accounts receivable factoring is the perfect solution when bank financing isn’t practical. Invoice factoring is an excellent financial tool for small to medium-sized B2B businesses.
Invoice factoring helps your cash flow much like a normal bank line of credit, but it’s much easier to qualify based on the credit-worthiness of your customers. Even if your personal credit is poor, a Dallas factoring company will focus on your account receivables for collateral.
Factoring companies pay you up-front for your invoices so you don’t have to wait 30, 45 or 60+ days for accounts receivable collections. Factoring companies all across Dallas can approve your factoring application within 3 to 5 business days. Often, you’ll get your first funding within 5 to 10 days, making invoice factoring a quick and painless process.