In New York state, companies from a variety of industries use invoice factoring to receive cash flow for daily business operations and expenses.
Invoice factoring is also known as accounts receivable financing. Invoice factoring is a common business financing process where a company sells its open accounts receivables (invoices) to a factoring company to get immediate cash. There are several benefits to choosing invoice factoring with Scale Funding.
New York accounts receivable financing and invoice factoring programs aid many industries with their cash flow needs.
|Telecom & Wireless||Trucking & Freight|
|Government Contractors||Renewable Energy|
|Utility & Pipeline||Many More|
Companies use factoring for a variety of reasons. The most common reason is to eliminate the long wait to be paid by their customers.
The main reason that companies choose to use invoice factoring and account receivable financing is to obtain working capital quickly. Invoice factoring provides cash within 24 hours on your invoices, giving you the ability to get caught up on bills, meet payroll, and invest in any new resources that might be needed.
Businesses in a variety of situations utilize New York invoice factoring programs to obtain the cash they need.
When you’re in growth mode, you need access to working capital quickly. Our New York factoring company programs pay you the day you’re ready to invoice, giving you the cash you need to continue operations.
The bank puts limits on your line of credit prohibiting your ability to grow. With invoice factoring, the amount of cash you receive grows as your business grows.
Companies that wait 30 days or more for customer payment face cash-flow gaps. Invoice factoring eliminates the gap by paying you on your invoices same day.
As a start-up company, it might be difficult to obtain a business loan or line of credit due to lack of financial history. Accounts receivable financing looks at the financial stability of your customers rather than yours.
When the bank turns you down because the risk is too high, Scale Funding can help.
If your credit is less-than-perfect, it’s difficult to obtain adequate funding from a bank. Invoice factoring looks at the credit of your customers rather than yours.
Tax liens make it nearly impossible to obtain funding from a bank. Scale Funding has years of experience, making these types of situations work for invoice factoring programs.
When the risk gets high, banks may pull away some funding you once had available, putting you in a stressful situation. We provide you with the funds needed to stay on your feet.
If your company is in a reorganization period, steady cash flow is needed to get your business on the path toward success. Invoice factoring is a good solution for companies in this situation as it doesn’t create debt.
Scale Funding has supplied invoice factoring services to companies throughout New York state for over 20 years, including:
|Buffalo||Long Island||New York City|
Growing your business with creative finance solutions like invoice factoring is simple. For a free, no-obligation consultation and quote, call (800) 707-4845.
New York is the fourth largest state based on population with almost 20 million residents. It’s commonly referred to as the Empire State.
Albany is the capital of New York. It’s significantly smaller than the most populous cities in the state with less than 100,000 people. New York, New York is the largest city with more than eight million people. New York City’s five boroughs are Brooklyn, Queens, Manhattan, the Bronx, and Staten Island. Other population centers in the state include Buffalo, Rochester, Yonkers, and Syracuse.
The state is dominated by the Appalachian Mountains. However, in the southwestern part of the state, there are low ranges of the Allegheny Plateau. Because of the variety of altitude throughout the state, the temperatures vary. The coldest part of the state is in Champlain Valley. Temperatures are generally about 10 degrees lower than those in the city.
The state also has several bodies of water including rivers, lakes and the Atlantic Ocean. Major rivers include the Hudson, Mohawk, and Genesee. The state borders several lakes including Ontario, Erie, and Champlain.
More than 60 percent of the state is covered in forest woodland with about 150 kinds of trees throughout.
A variety of wildlife inhabits the state between the forests and bodies of water. Bats, whales, bobcats, black bears, bald eagles, turtles are just a few of the many species you can find.
Early industries of the economy included fur trading, shipping, financing, and printing.
Today, New York has a prosperous economy with major businesses in just about every industry. Dominant industries include financial, healthcare, technical services, retail, food service, and manufacturing.
There are several large companies and big employers that are in the state. Below are just a few.
New York is filled with destinations, activities, celebrations, and events that residents and visitors enjoy.
From the rivers and lakes to the mountains and low terrain, there is plenty of outdoor recreational activities that all enjoy. Some of the most popular include boating, golf, horseback riding, inline skating, kayaking, roller skating, skiing, snowmobiling, and swimming.
There are also several professional sports teams that both residents and non-residents follow and cheer for. Two Major League Baseball teams make the state their home, the New York Mets and the New York Yankees. Several other professional sports teams are in the state, including the Buffalo Bills (NFL), Buffalo Sabers (NHL), New York Rangers (NHL), New York Islanders (NHL), Brooklyn Nets (NBA) and the New York Knicks (NBA).
There are several sites to see throughout the state, many of which have a historical background to them.
Brooklyn Bridge: Connecting Brooklyn and Manhattan, the design and structure of the bridge make it a well-known symbol.
Central Park: For more than 150 years, people have enjoyed this park located in Manhattan. From a zoo and various monuments to scenic sites and events, there is always something to do here.
Empire State Building: A U.S. historical landmark located in Manhattan. It was the world’s tallest building for almost 40 years, standing at more than 1,400 feet high.
Grand Central Terminal: Opening in 1913, this train terminal is a historic landmark located in New York City.
Ground Zero Memorial: Located where the World Trade Centers stood before the terrorist attacks on September 11, 2001, this exhibit features three parts: before 9/11, after 9/11 and the unfolding of events that occurred on 9/11.
New York International Auto Show: North America’s biggest and oldest car show.
Radio City Music Hall: Events are always going on at this historic music hall. The lighting of the nation’s favorite Christmas tree has occurred at Radio City Music Hall every year since 1932.
Statue of Liberty: The famous statue, located in New York Harbor, was a gift from France in 1886 to symbolize international friendship. Today, it’s still an iconic symbol of the state and a top tourist destination.
The Metropolitan Museum of Art: Founded in 1870, the museum features over 5,000 years of art.
Times Square: A well-known area filled with entertainment, shopping, dining, billboards and more. It’s the most visited place with more than 131 million visitors per year.
New York has 156 colleges throughout the state, some of which are founded as early as the 1700s.
New York was first explored by the Europeans in the early 1600s. It has a long historical record as it was one of the original 13 colonies to declare independence in 1776.
Below is a brief timeline of some major events and people that are connected to New York.
1777: The Battle of Bennington was fought in August in a British effort to capture American storehouses in Bennington. The Battle of Oriskany also occurred in the same month and was a major turning point in the fight for independence. It’s known as one of the bloodiest battles of the American Revolution.
1800-1874: Born in Summerhill, Millard Fillmore was the 13th President of the United States after President Taylor died suddenly.
1820-1906: Although she wasn’t born in New York, Susan B. Anthony spent much of her life in Rochester. She is known for being one of the leaders in the fight for women’s rights.
1843: The first ever documented American chess tournament.
1861-1865: During the American Civil War, New York supplied troops, equipment, and financing to the Union Army.
1882–1945: Born in Hyde Park, Franklin D. Roosevelt, also known as FDR, served as President of the United States from 1933 to 1945. During his presidency, he led the nation into World War II after the attack on Pearl Harbor in 1941.
1894-1978: Norman Rockwell was a famous author, painter, and illustrator born in New York City.
1914-1995: Jonas Salk was born in New York City and is best known for his medical research and the development of the polio vaccine.
1922–2014: Born in New York, Isaac Sidney “Sid” Caesar was an American comic actor and writer. He was best known for his roles in Your Show of Shows, Caesar’s Hour and Coach Calhoun in the popular movie, Grease. Caesar was also a talented saxophonist and author of several books.
1964–Present: Bonnie Blair was born in Cornwall in 1964. She is known for being the only American woman to win five gold medals in three Olympic Games.
2001: On September 11, 2001, terrorists flew two hijacked passenger jets into the World Trade Center buildings. The attack took almost 3,000 lives.