Small and mid-size businesses sometimes struggle with cash-flow. When this happens, a North Carolina factoring company such as TCI Business Capital is an excellent source of funding. The cash supplied by invoice factoring enables a business to meet payroll, manage operating expenses, or fund new growth.
Invoice factoring sometimes referred to as accounts receivable financing, is a form of funding used by businesses as an alternative to traditional bank financing. While accounts receivable financing and business loans and lines of credit are both sources of cash for companies, there are several differences between these financing products.
Businesses using accounts invoice factoring, sell their open invoices to a factoring company for an immediate cash advance. The factoring company advances a percentage of the invoice amount, within 24 to 48 hours. Once the factoring client’s customer pays the invoice, the remaining invoice balance is paid to the client, minus a small factoring fee.
Business loans and lines of credit are notorious for lengthy application and approval times. Many businesses do not have the luxury of waiting weeks or months to be approved. With invoice factoring, a business can be approved and begin the setup process in as little as 15 minutes.
TCI Business Capital is a leading North Carolina factoring company. Businesses from a range of industries use the cash from factoring with TCI Business Capital to build strong, stable operations and position themselves for future growth.
One of the keys to using a North Carolina accounts receivable financing company is to choose one with a track record of success. TCI Business Capital has more than 20 years of experience in providing factoring services to businesses in a range of industries. This industry experience helps guide clients as they grow, and positions them for continued success. Some of the many industries TCI Business Capital offers factoring to include:
|Trucking & Freight||Heavy Equipment||Oil & Gas|
|Technology||Telecom||Pipeline & Utility|
|Renewable Energy||Government Contracts||Staffing Agencies|
Businesses in a variety of situations use a North Carolina invoice factoring company to create stability in their operation. Factoring enables business operators to focus on what’s important each day, and not spend time worrying about and stressing over money.
Some of the unique financial and business situations we provide working capital for include:
For information on invoice factoring with TCI Business Capital, and to receive a quote on a custom factoring program, call (800) 707-4845.
North Carolina ranks in the top ten for most populous states with just over 10 million residents. The state capital, Raleigh, is the state’s second largest city with more than 400,000 people. Other large cities include Charlotte, Greensboro, Durham, and Winston-Salem.
While the state ranks in the top ten in the U.S. for population, the land area is relatively small compared to other states. The state covers about 53,000 square miles, giving it a rank of 28 based on land area.
The state is composed of three distinct areas which include the coastal plain, Piedmont and mountains. To the east is the coastal plain which contains the Outer Banks and Tidewater region. Many people visit the Outer Banks for its beaches, parks, and diving. The second region is located in the center of North Carolina and is called Piedmont. The Piedmont area is the most populous region of the state. The west part of the state is the Appalachian Mountains and other mountain ranges including Mount Mitchell, Mount Craig, and Big Tom.
There are more than 50 colleges and universities throughout North Carolina. Some of the well-known schools include the University of North Carolina, Duke University, North Carolina State University, and Appalachian State University.
Duke University is a private college, created in 1924 by James Buchanan Duke. Because of its high academic standards, only about 10 percent of all applicants are accepted into the college. The University of North Carolina at Chapel Hill is one of the oldest schools in the United States. It began its curriculum in 1795.
North Carolina has a growing economy. According to bizjournals.com, the state had the fastest growing gross domestic product in the Southeast in the third quarter of 2015. It ranked 14th in the nation for its growth rate. Several industries made an impact on this statistic including aerospace, aviation, defense, manufacturing, trucking, heavy equipment, pharmaceuticals, energy, communications, and technology.
Many well-known companies have headquarters in the state. A few of these companies include Bank of America Corporation, Carquest, CommScope, Duke Energy, Family Dollar, Hanes, Krispy Kreme, and Progress Energy, Inc.
Several well-known and historical names are connected to the state and are remembered today for their various achievements.
Virginia Dare was born in 1587. She was the first English child born in the New World in Roanoke Colony, which we now call North Carolina.
The seventh president of the United States, Andrew Jackson, was born in the state in 1767. One of his most significant accomplishments is that he is the first and only president ever to pay off the national debt.
Born in Pineville in 1795, James Polk became the 11th President of the United States. During his term, Oregon and California officially became part of the United States.
Caleb Bradham was a pharmacist from New Bern. He created “Brad’s Drink” as a way to aid with indigestion. He started bottling the soft drink we now call Pepsi Cola in the back of his drugstore in the late 1800s.
Five-time Emmy winning journalist Edward R. Murrow was born in Guilford County in 1908. He is most known for his reporting at CBS news. He is also a member of the Television Hall of Fame.
Other recognizable names from the state include Michael Jordan, Andy Griffith, Clay Aiken, Eric Church, Jaime Pressly, Michael C. Hall, Randy Travis, and Zach Galifianakis.
With the diverse terrain including rivers, lakes, hills, and mountains, people enjoy a variety of recreational activities. Some of these include boating, bird watching, canoeing, golfing, horseback riding, in-line skating, kayaking, and swimming.
Biltmore Estate was built in the late 1800s and is a top tourist attraction for the state. It’s located in Asheville and is America’s largest private house. Tourists can stay at the mansion and enjoy the numerous outdoor activities, concerts, shopping, tours, and more activities the estate has to offer.
Cape Hatteras National Seashore and Lighthouse are located near Bodie Island. This national park preserves about 75 miles along the Outer Banks.
Located in Kill Devil Hills, the Wright Brothers National Memorial is the location of the first air-powered flight by Wilburn and Orville Wright.
The North Carolina Jazz Festival has been taking place for more than 30 years and is a top event for the state.