Receivables factoring in Seattle / Tacoma / Bellevue
Seattle and surrounding cities Tacoma, Bellevue and Redmond have a sizzling economy due to the large companies located in the area. Amazon and Microsoft are both located in the Seattle area. Boeing is the largest export manufacturer in the world. Local high-tech companies are on the cutting edge of software, cloud computing and artificial intelligence.
Starbuck’s, Expedia, Zillow and Costco are just a few more of the Fortune 500 companies that are headquartered in the Seattle area. All these big companies support hundreds of small vendors and service businesses throughout the metropolitan area. These small businesses need access to working capital so they can grow and sustain their businesses, especially in periods of startup and high growth.
Bank financing is typically out of the question for small businesses. The loan requirements are so burdensome, that it’s completely impractical for young startups. Fortunately, local factoring companies can provide the simple financing needed to survive.
Receivables factoring improves your cash flow because you don’t have to wait 30, 45 or 60+ days to collect your receivables. The factoring company buys your invoices and sends you cash within 24 to 48 hours. Factoring costs are often mitigated by the many benefits that come with factoring services. You get reliable cash flow, receivables management, credit services and a seasoned financial partner.
The application process is much easier than trying to get a bank loan. Factoring companies in Seattle 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.