Small and mid-size businesses in the Detroit area need cash to operate. One of the best sources of cash are factoring companies in Detroit. Factoring is a source of financing businesses use to cover payroll, business expenses, and more.
Invoice factoring, also known as accounts receivable financing, is a financing program many companies use when they have slow-paying customers. Instead of taking out business loans or opening lines of credit, factoring provides same-day cash on your invoices. At TCI Business Capital, we offer factoring lines starting at $50,000 a month all the way to $20 million.
Business Loans & Lines of Credit
|Approvals Within 15 Minutes||Lengthy Approval Process|
|Funding Within 24 Hours||Funding in 1-3 Months|
|No Monthly Interest||Monthly Interest|
|No New Debt is Created||Debt Created|
|No Line Limits||Line Limits|
|Based on Customers’ credit||Based on Your Credit|
|No Waiting on Payments From Slow-Paying Customers||Still Waiting on PaymentFrom Slow-Paying Customers|
TCI Business Capital is the top choice among factoring companies in Detroit. Contact us to get approved today and get cash in your pocket tomorrow.
Companies in a variety of situations choose Detroit invoice factoring programs for a variety of reasons. However, all of them have one thing in common, they need access to cash to maintain and grow their operations.
Many companies that we work with have slow-paying customers. Our programs eliminate the wait for payment by paying same-day cash for invoices.
Both start-ups and expanding companies can go through financial challenges making it difficult to get funding from a bank. Our Detroit accounts receivable financing lines are flexible enough to work with companies with maxed-out credit, less than perfect credit, tax liens or companies going through bankruptcy.
For more than 20 years, companies in a variety of industries have used our Detroit factoring company programs. We have helped many industries including:
Originally founded in 1701 by French explorers, Detroit swapped hands many times between the Seven Year’s War, the Revolutionary War, and the War of 1812 before finally being incorporated as a city in 1815. And much like its original incorporation, Detroit’s recent history has been filled with many questions, plenty of ups, and its fair share of downs, too. But as it stands, there’s much to be optimistic about these days in Motown.
Fondly referred to by Detroiters as “The Motor City,” “Renaissance City,” “The D,” and “Hockeytown” (among many other nicknames), today metropolitan Detroit is home to almost 714,000 residents, and including the three counties by which it’s surrounded, the Detroit area is comprised of roughly 1,300 square miles and just over 3.7 million people. While of late the city has seen an influx of youth (with 57 percent of downtown’s new residents being young professionals), people of all ages call the city home; about a quarter of residents are between the ages of 22 and 39, another quarter between 40 and 59, and about 17 percent are over 60. And it is by the efforts of these people that Detroit is returning to its days of prosperity.
Recent years have given the reason for Americans to believe that Detroit is once again on the rise. For instance, the City of Detroit anchors the 2nd economic region in the Midwest and the 13th in the United States, pointing to the success of its major industries. Moreover, if someone’s hoping to start a business, Detroit might be their perfect spot. Says Bruce Katz, “You can come to Detroit and you can really make a difference.” Indeed, the revitalization of this innovative city is coming at the hands of many inspired entrepreneurs who are mostly concentrated in “Madison Block,” where roughly 300 individuals are building about 50 new startup companies, including Accio Energy, Detroit Labs, and Ludlow Ventures, among many, many others.
By the same token, the major corporations in the city offer a variety of business opportunities and services. Apart from its three strongest industries (automobile, advanced manufacturing, and food and agriculture), the city’s most prominent industrial sectors include finance, technology, and healthcare. Among them, a number of prominent companies call Detroit home, including General Motors, Quicken Loans, Ally Financial, Compuware, Shinola, American Axle, Little Caesars, and DTE Energy. While there are about 80,000 people employed in downtown Detroit, Midtown is also a prominent area of employment. The Detroit Medical Center (the city’s largest employer), Wayne State University, and the Henry Ford Health System all happily accompany the area’s growing retail and restaurant scenes.
Detroit is also making efforts to reinvigorate its areas that once bustled with activity and helped stimulate the economy. For instance, a number of developments and refurbishments are in motion, including the reconstruction and transformation of the David Whitney Building into a hotel and luxury residences (an $82 million project), Midtown’s Woodward Garden Block Development, and other hotel reconstructions and smaller projects.
Though Detroit has certainly experienced rough times in its history, this hasn’t diminished the pride the city has for its cultural innovation and tradition. Historically, the city was the impetus of major cultural revolutions, perhaps most notably for the founding of the Ford Motor Company in 1903 (and other automotive pioneers) who firmly established Detroit as the automotive capital of the world. In addition, Detroit is looked upon as one of the most musically influential cities in American history. The ‘60s, in particular, produced an unheralded number of dynamic musical acts, including The Temptations, Stevie Wonder, Marvin Gaye, The Jackson 5, and Diana Ross and the Supremes. A significant number of the city’s buildings, one of the United States’ largest collections from the late 19th and early 20th-centuries, have been listed on the National Register of Historic Places for their architectural accomplishments.
And along with its past cultural contributions, Detroit has only increased its role as a cultural hub in the 21st century.
Whatever you might hope to do in a city, chances are Detroit can oblige. Between the Lions, Pistons, Tigers, and Redwings, Detroit offers the sporting event of your preference. Or perhaps you’d like to indulge in the city’s artistic endeavors. Between the Fox Theatre (one of the top-grossing theaters of its size in the nation) and the Detroit Opera House (“the crown jewel of downtown Detroit’s Theater District), residents and visitors alike can see some of the finest performances the nation has to offer; unsurprising considering the city’s theater circuit is the second largest in the United States.
In the same vein, the 658,000-square-foot Detroit Institute of Arts is a bastion of creativity that spans centuries of local and world history with more than 100 galleries, a 1,150-seat auditorium, a 380-seat lecture/recital hall, an art reference library, and a state-of-the-art conservation services laboratory. It’s ranked among the United States’ top six historical collections and much of this is credited to its exceptional breadth and diversity. The collection includes American, European, Modern and Contemporary and Graphic Art, as well as significant works of African, Asian, Native American, Oceanic, Islamic, and Ancient art.
But don’t be fooled; contemporary events contribute just as much to the city’s splendor as its traditional ones do. At the DTE Energy Music Theatre, a venue surrounded by some of the most beautiful lakes and picturesque woods nature can offer, musical acts from virtually every era perform. With recent upgrades in its audio systems and beverage and food offerings, it is the ideal place to watch your favorite performers. Additionally, the Detroit International Jazz Festival, the Detroit Electronic Music Festival, the Motor City Music Conference (MC2), the Urban Organic Music Conference, the Concert of Colors, and the hip-hop Summer Jamz festival are all musical events that bring the community together in celebration and revelry.
Detroit is home to a plethora of beautiful locations and landmarks that are certainly worth seeking on any given day. From the aforementioned cultural and artistic staples, the beautiful natural landscapes and outdoor marvels, to the architectural and historic wonders that can be found throughout the area, one always has something new to experience.
Perhaps you might begin at the Campus Martius Park, a two-block district touted as both the commercial center and head of downtown Detroit. Then, you might head over to the expanding Detroit International Riverfront, which has a marina, parks, restaurants, shops and a number of other ways for you to spend your day. Or you may go to the Motown Museum, whose mission is “to preserve, protect, and present the Motown story through authentic, inspirational, and educational experiences.” There’s also Belle Isle Park, the Guardian Building, the Ford Piquette Avenue Plant and the Eastern Market, the largest historic public market district in the U.S., and home to the largest open-air flowerbed market and more than 150 food and specialty businesses.
Detroit has always been a city of innovation, progress, tradition, and culture. And despite the hardships the city has undergone, Detroiters are returning the city to its former glory by emphasizing its past successes and pioneering new ones. There’s plenty of reason to be excited about its future.