While there are several ways to fund a business, accounts-receivable financing, also known as invoice factoring, is a solution many use when they need to speed up their cash-flow from slow-paying customers.
Our Raleigh accounts receivable financing programs work by selling your invoices to TCI Business Capital, at a discount, in exchange for cash. We’ll transfer the competitive advance on your invoice amount directly into your bank account, same-day. When your customer pays the invoice 30, 60, 90 or more days later, we’ll deposit the remaining amount into your bank account, minus a small fee for our services.
Here is a look at our invoice factoring programs in comparison to a business loan or line of credit.
Raleigh Invoice Factoring Programs
Business Loans & Lines of Credit
|Quick approval process dependent on your customers’ credit||Long approval process dependent on your credit|
|Funding within 24 hours||Funding in 1-3 months|
|Programs grow as your business grows.||Monthly volumes ranging from $50,000 to $20 million Program is capped and it can be difficult to obtain more cash in the future|
|No debt created||Creates debt|
|Free credit reports on your customers||No credit reporting|
|Eliminates cash-flow gap||Cash-flow gap is still present and grows larger as your business grows|
No matter if you’re a start-up company or growing rapidly, reliable cash flow is essential. We understand this and customize our programs to meet the unique needs of every business.
Whether you just need access to cash quick or you’re unable to get funding from a bank because of credit, tax issues or you have filed for business bankruptcy, we can work with you.
Our custom and flexible programs are just another reason why businesses choose to work with TCI Business Capital over other factoring companies in Raleigh and the surrounding areas.
Many industries benefit from our Raleigh invoice factoring programs. We can speed up the cash-flow for almost any industry that invoices other businesses on net terms.
Some of the industries we’ve helped over the last 22-plus years include:
|Telecom: cell tower installation, cell tower maintenance, fiber optic installation and more||Trucking & Freight: intermodal, refrigerated, flatbeds, vans, heavy hauling and more|
|Oilfield Services: roustabouts, gravel haulers, water haulers, fracking services, vacuum trucks and more||Utility & Pipeline: construction, maintenance, rehabilitation, utility locators and more|
|Heavy Construction: environmental services, equipment rental, excavating, HDD and more||Technology: IT consulting, data migration, network administration, software development and more|
|Renewable Energy: wind, solar, water, operational and maintenance contractors, construction and more||Government Contractors: technology, security, defense, transportation, services and more|
|Staffing Agencies: healthcare, administrative, general labor, clerical and more||Many More: printing, manufacturing, distribution, janitorial services, wholesale and more|
Raleigh is the capital city of North Carolina and is one of the fastest growing cities in the United States. It is home to several universities that lead the nation in research and development in several fields, has a blossoming culinary and nightlife scene, and is consistently attracting new businesses to its constantly growing urban centers.
Raleigh is one of the first and only planned capital cities in the United States. Raleigh was picked as the location of a new capital for North Carolina in 1788. The site was chosen for a couple of reasons: first, its inland location protected it from naval attack. Second, it was only 11 miles from Isaac Hunter’s Tavern, an extremely popular inn that frequently hosted state legislator meetings. Raleigh was captured by Union forces during the Civil War, but escaped significant damage during, something relatively rare for an enemy-occupied city during wartime. After the war, Raleigh became a bastion for African American education in the South. Shaw University was the South’s first African-American college, and would later construct Estey Hall, the first building dedicated to the higher education of black women. Later, Shaw University would open up the Leonard Medical Center, the first four-year medical school for African Americans.
Today, Raleigh continues to be a hub of higher education. North Carolina State University in Raleigh is part of the renowned Research Triangle, which along with Duke in Durham and UNC at Chapel Hill forms the Research Triangle Park that houses several high-tech companies. This research center is one of the largest of its kind in the entire world, with over 200 companies employing 50,000 people and over 10,000 contractors. Notable companies that call it home include GlaxoSmithKline, Cisco Systems, Mitel Communications and IBM. These companies and ones like them and their satellite businesses generate a significant amount of income for the Raleigh economy through taxable revenue and high-quality jobs. However, it is not just the biotech and technology industries that are thriving in Raleigh. In 2015, Forbes named Raleigh the #1 place for business and careers. A closer look at the economy reveals that there are many growing industries in the city, including banking, financial services, pharmaceuticals, food processing, medical, telecommunications, and clothing and apparel. Finally, Raleigh has a growing tourism industry, as more and more people visit the city each year to explore everything it has to offer.
The most popular destination for tourists is the North Carolina Museum of Natural Sciences. This historic building is the oldest museum in North Carolina and the largest of its kind in the Southeast. Each year over 1.2 million people visit its exhibits, which include four different and distinct campuses: the Nature Exploration Center, the Nature Research Center, the Prairie Ridge Ecostation and the North Carolina Museum of Forestry. The first two sections, the Exploration Center and the Research Center, sit across from one another and are connected by a breezeway. Both are four stories tall and feature thousands of exhibits. Some of these highlight local flora and fauna, like the Natural Treasures of North Carolina exhibit, while others explore the world of the dinosaurs and still others investigate the mystery of the cosmos with a massive astronomy and space observatory.
The next major tourist attraction is the North Carolina Museum of Art. This museum holds the distinction of being the first major museum collection in the United States to be created by State legislation and funding. Ever since its initial opening in 1956, the museum has continued to allow free admission to its permanent collection. Overall, the works here cover a period of over 5,000 years of art. In addition to the actual art exhibits, the museum also has art programs for the public, a rotating gallery for traveling art exhibits, and an amphitheater for outdoor performances. The permanent collection inside the museum includes works from all over the globe, including Egypt, sub-Sahara Africa, Renaissance Italy, Northern Europe, and Ancient America. There are even exhibits that focus on specific people groups, like the Judaic art collection that celebrates the art, ceremonies, and culture of the Jewish people.
For those looking to get outside and enjoy some of Raleigh’s beautiful weather, there is the no better place to go than Pullen Park. This public space spans over 66 acres and features concession stands, picnic areas, and a large pond where visitors can rent pedal boats. Some of the best attractions here are for the kids, including a carousel and a small train that drives around the park grounds. Even when the weather gets cold, there is still plenty to do. The Pullen Aquatic Center is an indoor swimming an athletic center that houses an Olympic-sized swimming pool, outdoor patio, and a therapy pool. Here, in addition to recreational swimming, guests can engage in various exercise programs, take swim lessons, or join the city-wide swim league. There is also a theatre in Pullen Park, a fully functional indoor stage with an attached costume shop and technical workshop. The Theatre in the Park, as it is known, puts on productions throughout the year, including at least four main stage productions, independent plays, and several theatre classes and workshops.
Raleigh is also an excellent destination for food and drink enthusiasts. The most iconic food to come out of North Carolina is of course Carolina-style barbecue. This wholly original take on the classic American tradition involves use of the whole hog, where the nothing is left to waste and the entire thing is put in the smoker and cooked “low and slow” for hours to get the most tender, flavorful meat possible. The sauce used in Carolina barbecue is distinct as well. Rather than a thick tomato base, this glaze is typically much thinner and made using vinegar as the base along with an assortment of hot spices like cayenne and paprika. Nothing goes with barbecue quite like a cold beer, and Raleigh has its share of craft breweries to ensure no one goes thirsty. There are ten unique brewers near the city, each with their own assortment of beers from IPAs to lagers to wheats. That’s not even including the many liquor distilleries and vintners that are also mixed into Raleigh’s unique food and beverage scene.
At its heart, Raleigh is a city with many sides. On one hand, there is the high tech world of research and development that is constantly churning out new technologies, pharmaceuticals, and big ideas. There is the thriving cultural heart that attracts tourists from all over the country to experience the one-of-a-kind museums and art galleries. There is the fantastic food and locally made drinks that are gaining national recognition for their quality and unique flavors. Add it all up and throw in the multitude of other industries that are setting up shop and growing in the city and you’ve got a place that is quickly becoming one of the premier cities in the U.S., and one that is definitely worth a visit.