Factoring Companies in St. Petersburg

Invoice Factoring is Your Cash-Flow Solution

Invoice factoring, also known as accounts receivable financing, is a cash-flow solution companies use to eliminate the wait on slow-paying customer.

The process works by selling your receivables (invoices) to a factoring company. The factoring company advances you a percentage of the invoice after a verification process. Once your customer pays at a later date, you’ll receive the remaining percentage, minus a factoring fee.

Scale Funding offers same-day funding, high advance rates and low, competitive factoring fees making it your top choice among factoring companies in St. Petersburg.

While some turn to business loans or lines of credit to fund their companies, those finance solutions don’t eliminate the wait on slow-paying customers. Even if you’re approved, it can take months to get the cash you need. With our St. Petersburg invoice factoring programs, we’ll get you approved within 15 minutes and funded same-day.

Industries

Since 1994, several industries have used our St. Petersburg accounts-receivable financing programs as their cash-flow solution. Scale Funding has experts in several industries including:

Trucking	Heavy Construction
Oilfield	Technology
Telecom	Renewable Energy
Wireless	Government Contractors
Utility	Staffing Agencies
Pipeline	Many More

Why Scale Funding Over Other Factoring Companies in St. Petersburg?

One of the reasons Scale Funding is recognized as one of the top factoring companies in St. Petersburg and throughout North America is because we’re able to provide funding when others can’t.

Finance with our St. Petersburg invoice factoring programs if:

• You’re waiting on slow-paying customer
• You need quick access to cash for your business
• You’re expanding
• You have a maxed-out line of credit
• You’re a start-up
• You were turned down by the bank
• You have less-than-perfect credit
• You have tax issues
• You’re in a bank workout situation
• You’ve filed for bankruptcy

St. Petersburg, Florida

Located on the western coast of Central Florida, St. Petersburg is known to its residents as St. Pete. The city holds the Guinness World Record for the most consecutive days of sunshine and, as such, has earned the nickname “The Sunshine City.”

History

In 1875, General John Williams traveled south from Detroit and purchased 2,500 acres of land on Tampa Bay – the future home for St. Petersburg. Thirteen years later, in exchange for a portion of the land, Peter Demens brought his Orange Belt Railway to the area, setting the stage for the new town. Although the exact chain of events is disputed, Williams allowed Demens to name the settlement and he chose St. Petersburg, after his birthplace in Russia. Since Demens named the settlement, Williams named the first hotel after his birthplace, Detroit. Incorporated as a city in 1903, St. Petersburg began its rich baseball history eleven years later when the St. Louis Browns became the first baseball team to come to the city for spring training. St. Petersburg’s tourism industry took off in the 1920s, aided by the creation of the Gandy Bridge, which cut down the travel time it took to reach the city. During World War II, St. Petersburg was a training ground for the U.S. Coast Guard, which led to a rapid increase in the population. In the 1970s, St. Petersburg began actively pursuing its own Major League Baseball franchise, which came to fruition when the Tampa Bay Rays made Tropicana Field their home in 1998.

Financial Services

St. Petersburg’s financial services sector is the most concentrated in the state. In fact, this sector is the largest employer in the city. St. Petersburg’s financial services industry is specialized in three main areas: security and asset management, insurance, and customer care. One of the most notable companies in the security and asset management segment is Raymond James Financial, the largest financial services firm outside of Wall Street. Some of the leading insurance companies in St. Petersburg include Transamerica, GTE Credit Union and UPC Insurance, among many others. The leading customer care companies with headquarters in St. Petersburg include PSCU, FIS and SERV (American Express). In addition to major financial companies, St. Petersburg has a number of leading institutions that supply a wealth of talent to the industry. More than 25 percent of the bachelor’s degrees awarded in the region are in fields directly related to financial services.

Marine and Life Sciences

One of the largest industry sectors for St. Petersburg is marine and life sciences. The city’s proximity to the Gulf of Mexico and Tampa Bay are a natural fit for the marine sciences industry and St. Petersburg has the largest marine and environmental sciences community in the Southeast. In fact, marine sciences provide a $251 million impact on the gross county product. At the heart of the industry is the St. Petersburg Ocean Team (SPOT), a collection of the top businesses and institutions in marine science, oceanographic and environmental research. SPOT promotes collaboration among its members and is one of the leading clusters in the country for the marine sciences industry. St. Petersburg has a highly educated marine sciences labor force, with more than 75 percent of the marine sciences employees holding advanced degrees. In addition to marine sciences, St. Petersburg also has a strong life sciences sector that is supported by a number of leading hospitals and research centers. In fact, St. Petersburg’s All Children’s Hospital was the first hospital outside of the Baltimore and Washington, D.C. area to be affiliated with Johns Hopkins Health Systems. All Children’s Hospital recently began construction on a state-of-the-art $85 million research and education building, which is expected to bring the leading physicians and researchers in the country. Another significant development in the city is the Innovation District, which is a dense collection of academic, business and healthcare facilities, including All Children’s Hospital, Bayfront Health and University of South Florida St. Petersburg.

Data Analytics

One of the fastest growing sectors in St. Petersburg is data analytics. In the digital age, where increasing amounts of data are collected in every transaction, analyzing that data is important. St. Petersburg is home to several data analytic service firms, as well as the data analyzing divisions of major corporations, including American Express, Valpak and HSN. These firms, as well as the city’s highly talented workforce and quality of life, position St. Petersburg to be a new hub for this sector. Additionally, the city’s strong financial services sector makes it a strategic location for the industry to grow.