Invoice factoring commonly referred to as accounts receivable financing is a financing solution that speeds up your cash flow. The process works by selling your invoices to a factoring company in exchange for instant cash.
While some companies turn to business loans or lines of credit for financing, these solutions do not speed up your cash flow from slow-paying customers. There are several other differences and advantages of using TCI Business Capital’s Dover invoice factoring programs over other funding solutions. Here are just a few.
Dover Accounts Receivable Financing (Invoice Factoring)
Business Loans & Bank Lines of Credit
|Quick quote and qualifying process||Lengthy approval process|
|No monthly interest||Monthly interest|
|No debt created||Debt created|
|Eliminates the way for customer payment||Still waiting on customer payment|
|Same-day funding||Funding in 1-3 months|
|Not dependent on your credit||Dependent on your credit|
|Approval amount grows as your business grows||Approval amount is capped|
While there are several factoring companies in Dover and the surrounding areas, TCI Business Capital prides itself as your number-one choice. We’re known for our flexibility, reliability, and get-it-done culture.
We’re able to customize our programs to eliminate the cash-flow gap from slow-paying customers for a variety of different business sizes and situations.
If you’re a start-up looking for some capital to get going or a growing company expanding quicker than your receivables are coming in, we can help. Our Dover accounts-receivable financing programs will get you paid same-day so you can accept more contracts.
Our programs are also able to help companies going through financial challenges such as bank turndowns, credit issues, tax liens, and business bankruptcies. Get started today with our Dover invoice factoring programs to get the cash your business needs.
Since 1994, TCI Business Capital has provided best-in-class factoring services to a variety of industries.
As long as you’re waiting to get paid from other businesses, our Dover factoring company programs can work for you.
For a free, no-obligation factoring consultation and quote, call TCI Business Capital at (800) 707-4845.
Dover is the capital and second-largest city in Delaware. Located in the center of the state, Dover is also the county seat of Kent County and has a population of over 37,000 people. Although Dover is quite small, it is in close proximity to a number of major cities.
In 1697, William Penn chose the area of present-day Dover to be the location of the courthouse of his newly acquired Delaware Colony. However, it wasn’t until 1717 that Dover was officially laid out and plotted around a central green (which is a historical park today). In 1777, Dover became the capital of Delaware, as many people believed it to be safer than the previous capital, New Castle. Dover played a pivotal role in the creation of the United States, as it was in Dover that the delegates from Delaware unanimously ratified the U.S. Constitution, making Delaware the first state. In the 1800s, Dover, and Kent County as a whole became an important producer of agriculture. Once the Delaware Railroad was extended to the region, the economic impact of agriculture increased, as they were able to reach a larger market. Dover was largely divided during the Civil War, as its residents had very strong beliefs in both directions. During this time, Dover was also active in the Underground Railroad. Dover flourished after the Civil War and it was during that time that many of the government buildings, colleges and churches were built.
There is a large military presence in Dover, as it is home to the Dover Air Force Base. The Dover Air Force Base is located on almost 4,000 acres of land in the southeast part of Dover. It is one of the largest employers in the city, with a workforce of almost 6,400 people consisting of 3,900 active duty, 1,000 civilians, and 1,500 reserves employees. The base also supports over 5,000 family members, who live, work, and spend money in the region. The economic impact of the base itself is approximately $466 million annually. Recently, Dover Air Force Base was selected as one of the finalists to be considered as the home base of the KC-46A Pegasus, the military’s new generation of mid-air refueling planes. If chosen, a fleet of up to 36 new tankers will be housed at Dover, which will significantly increase the base’s economic impact.
Manufacturing is an important part of Dover’s economy. In fact, Dover is home to a number of name-brand manufacturers, including Kraft Heinz and Edgewater Personal Care, which owns many personal-care brands including Playtex. Over the past few years, both brands have gone through significant changes; Kraft Heinz is the result of a merger between Kraft Foods and Heinz in 2015 and Edgewater Personal Care was formed as a spin-off of Energizer Holdings. However, despite plant closures in other areas, both companies chose to keep and even expand their plants in Dover. In 2012, Kraft Foods invested approximately $10 million on an expansion to their Dover plant in order to relocate their Kool-Aid factory from Mexico. Since the merger, Kraft Heinz has been awarded state grants to help further expand their operations and add additional jobs. In 2012, Edgewater Personal Care (as Energizer Holdings), decided to consolidate their Playtex plant in Montreal into the one in Dover. The consolidation will add several hundred jobs to Dover’s labor force by 2017. Another significant manufacturing company in Dover is ILC Dover, which specializes in high-performance flexible materials and is best known for making spacesuits for NASA.
Historically, agriculture was an important part of the economy of Delaware and this continues to be true today. Delaware has a farmland preservation program, which is a voluntary program for farm owners that gives them significant land protection in exchange for an agreement to only use their land for agricultural purposes for at least ten years. In Kent County, of which Dover is the largest city, over 50 percent of the farmland is permanently preserved. Along with Sussex County, Kent County is in the top two percent of all U.S. counties in the value of vegetables sold. In fact, the market value of Kent County’s agricultural products sold in 2012 was almost $278 million, which represented a 47 percent increase from 2007. In addition to crops, poultry production and processing are a significant industry and Perdue Farms is one of the leading employers in the region.