Receivables factoring in the Washington, DC area
The Washington, DC area has a growing, diversified economy with an increasing number of professional and business services. Washington DC is the home to many independent contractors and professional associations that have their headquarters in or near D.C. to be close to the federal government. The federal government is responsible for most of the business activity in Washington, D.C.
Some factoring companies specialize in government contractor factoring to improve cash flow related to their government contracts. Invoice financing improves your cash flow because you don’t have to wait 30, 45 or 60+ days to collect your receivables. Factoring companies fund your invoices within 24 to 48 hours.Accounts receivable factoring is very attractive if you can’t qualify for bank financing. It provides a constant flow of working capital similar to a line of credit without incurring debt or loan payments.
Factoring companies can approve your factoring application quickly. Often, you can get your first funding within 5 to 10 days, making invoice factoring a quick and easy process.