Accounts receivable financing (invoice factoring) is when a company sells its invoices to a third party (factoring company) at a discount for access to instant cash. While there are many Washington factoring companies, TCI Business Capital is your number-one choice.
Here are some benefits of choosing our Washington accounts receivable financing programs.
For more than 20 years, TCI Business Capital has provided top-rated Washington factoring company programs to a variety of industries.
|Trucking & Freight||Government Contracts|
|Telecom & Wireless||Renewable Energy|
|Heavy Construction||Staffing Agencies|
|Utility & Pipeline||Oilfield Services|
Companies utilize our Washington invoice factoring programs for a variety of reasons. However, one thing they all have in common is the need for quick cash. TCI Business Capital provides funding for companies in a variety of situations, so they’re able to continue operations.
Rapidly growing companies need access to cash to invest in new resources such as equipment and employees. Accounts receivable financing advances you the cash you need to keep growing.
If you’re waiting to get paid from slow-paying customers, a cash-flow gap is created making it difficult to keep up with business obligations. Invoice factoring eliminates this gap by paying you same-day.
If a bank turns you down because of maxed credit, less-than-perfect credit, or because of a tax issue, invoice factoring is an alternative funding source many companies use to get the cash they need when the bank says no.
TCI Business Capital has helped many startups grow their businesses by providing the cash they need.
If you’ve filed for Chapter 11 bankruptcy and are in need of a debtor-in-possession financing solution, we can help. Our Washington invoice factoring programs give companies going through reorganization the cash needed to get back on their feet.
Washington is the 13th most populous state in the United States and is ranked the 18th largest by area. According to the estimate by the U.S. Census Bureau in 2015, Washington’s population is around 7.1 million which is up approximately 446,000 from the 2010 census. The Washington State Office of Financial Management noted that in the past several years between 44 percent and 62 percent of the population increase is due to migration from other states, mainly California, Oregon, and Texas. More than 60 percent of Washington’s population live in the Seattle metro area, the center of transportation and business for the state. The rest of the state is sparsely populated due to the varying terrains of temperate rainforests, mountain ranges, and a semi-arid basin region.
Why the huge jump in migration? It could be that Washington is one of seven states that does not impose a personal income tax or all of the unique job opportunities offered in the state.
Washington has a very diverse economy with the biggest sectors being aerospace, agriculture and food manufacturing, clean technology, forest products, information and communication technology, life science/global health, maritime, and military and defense. The state is home to big-name companies like Microsoft, Amazon.com, Nintendo of America, T-Mobile USA, Starbucks, Nordstrom, Costco, and Expedia.
The aerospace industry is led by Washington’s contributions of the most advanced and successful military aircraft, drones, and space exploration vehicles in the world. The state produces approximately 1,400 aircraft annually, about half of those being commercial. In 2014, Washington produced 95 percent of all commercial airplanes manufactured in the country. Every piece of the industry has a place in Washington from aircraft interiors and composite structures to internal machinery as well as space satellites. This results in over 132,000 skilled aerospace industry professionals.
Most U.S. citizens have at least heard that Washington is known for some type of agriculture, although they might not realize just how much. Washington is comprised of more than 15 million acres of farmland and produces over 300 different crops including red raspberries, apples, sweet cherries, grapes, and peppermint oils. With all those grapes comes 800 plus wineries, second only to California in wine production. The leg-up that Washington has for such success is the diverse geography and climates held within including warm, rolling plains and moist hillsides and valleys, not to mention the vast ocean access.
One of the oldest and largest industries in Washington began 200 years ago when the untouched forests covering the state helped fuel Western expansion and create bustling communities. The forest-products sector includes standard cutting and production of lumber chips, sawdust, wood flooring, shingles, tiles, millwork, laminated veneer, and fencing. Other products made from lumber in the state are paper, doors, window frames, and stairs. “The Evergreen State” places a large importance on sustainability and perpetuation of the market, which they convey through their creation of the world’s first tree farms. They revolutionized the industry with their view of trees as an agricultural crop instead of a finite natural resource.
Another highly mentionable industry in Washington is maritime and international trade. The state has over 3,200 miles of shoreline, and 50,000 miles of rivers and streams, as well as direct access to the Pacific Ocean, making it a prime location for businesses such as passenger transportation, fishing and seafood products, luxury yachts, military craft and ship building, and more. Washington is the number-two seafood producer in the United States with Alaska holding the top spot. With the addition of other sectors in the state, Washington has made significant advancements in aerodynamics, hydrodynamics, and software and electronics for the maritime industry. The state produces a whopping 80 percent of their power using hydroelectric generation and also has a huge amount of Asian trade through the ports of the Puget Sound.
Early Europeans and Spaniards were first attracted to the area around the late 1700s due to the abundance of valuable sea otter and eventually beaver fur. In 1790, Britain and Spain concluded the Nootka Sound Agreement, which opened present-day Washington’s western coastline to trade and settlement. American interest first came in 1792 when Boston native Robert Gray and others explored the Columbia River, and with the Lewis and Clark Expedition in 1804-06 brought widespread public interest.
In 1846, the present U.S.–Canadian border was established, and Washington became part of the U.S. territory of Oregon two years later. It was separated in 1853 and the first governor, Isaac I. Stevens, made the quick decision to remove Native American title to the land and to improve transportation in the area. Because of the tense situation between natives and settlers, war ensued from 1855 to 1858, delaying the construction of the northern transcontinental railroad until 1893. This railroad allowed for a big economic boost and a rapid growth period that lasted through World War I. The main industries at this time were wheat cultivation and cattle farms as well as lumbering and fishing. The Boeing Airplane Company was established during World War I and became the private employer in the state after World War II.
By the mid-20th century agriculture was king with innovations such as large dams to provide irrigation and flood control, water storage capabilities, and cheap electric power making it all possible.
In 1980, Mount St Helen erupted, charring miles of forest, killing 57 people, and flooding the Columbia River with ash and mud.
Washington politics have been Democratic since the 1950s and 60s during John F. Kennedy’s election, and the state is known for its progressive moves. In 2009, the Washington Death with Dignity Act was passed, and in 2012 the state voted to legalize marijuana and same-sex marriage, making it the first state to legalize all three.
Washington is home to more than 40 colleges, universities, and higher education institutions. The most prominent include the University of Washington, Seattle University, Washington State University, and Evergreen State College.
Melting Pot of Art
As a great American crossroad, Washington has become a great mixture of Native, Latino, European, Asian, and African descendants. These cultures are all influenced artistically by the climate and surroundings resulting in much of the art created and showcased throughout the state featuring nature and animals. The state’s largest concentration of art venues resides in Seattle in the form of the Seattle Opera, Seattle Re,p and Seattle Art Museum. There are also 400 permanently sited works throughout the city that brighten parks, bridges, street, libraries, and train stations.
Festivals and Events
Washington has over 54 events that prove to be staple activities for all residents throughout the year. These festivals range from the Washington State Fair and Summer Market to more culturally focused events such as the Chinese New Year celebration and the Festival Sundiata, which features African-American heritage.
Washington has three professional sports teams including the Seattle Mariners (baseball), the Seattle Seahawks (football), and the Seattle Sounders (soccer). The Seahawks and Sounders as well as various other concerts and trade shows are held at the CenturyLink Field which seats 72,000 people.
Many notable people have called Washington home including former quarterback Drew Bledsoe, late musician Kurt Cobain, longest-serving U.S. Supreme Court Justice William O. Douglas, and Microsoft founder Bill Gates.