Invoice factoring works by selling your accounts receivables (invoices) to a third party, commonly known as a factoring company. Instead of waiting to get paid, the factoring company advances you a percentage of your invoice amount within 24 hours. Once your customer pays the invoice, the factoring company remits the remaining balance, minus a small fee for their services.
TCI Business Capital has been helping businesses with their cash flow since 1994. Not only do we offer the best West Virginia invoice factoring programs, we also offer additional back-office support and services at no extra cost. These added services include a dedicated account representative, full treasury department, online reporting, credit analysis, risk assessment and a dedicated collector for your account.
While business loans and business lines of credit might be a good option for some, it’s not the right solution for all.
If your business needs funding to fill a cash-flow gap caused by slow-paying customers, business loans and lines of credit will only fill this gap for a short time. The amount provided is capped. It can be difficult to obtain more financing as it creates debt on your balance sheet.
With invoice factoring, the cash-flow gap is eliminated by paying you same-day on your invoices. The amount provided to you grows as your business grows. The more you invoice, the more working capital you’ll have.
For more than 20 years, TCI Business Capital has provided a cash-flow solution to West Virginia companies. Our flexible programs make it possible for us to meet the funding needs for a variety of industries.
|Telecom & Wireless||Technology|
|Heavy Construction||Utility & Pipeline|
|Oilfield Services||Trucking & Freight|
|Government Contracts||Renewable Energy|
|Staffing Agencies||Wholesale, Distribution & Many More|
Companies in a wide variety of financial and business stages utilize invoice factoring to fund daily operations. If one or more of the situations below describes your business, our West Virginia invoice factoring programs could be the right solution for you.
West Virginia is a relatively small state in terms of population and land area. The population is about 1.8 million people. The state capital of Charleston is home to about 51,000 people.
Most of the state is covered by heavy forestland. The Appalachian Mountains covers about two-thirds of the state. This gives West Virginia one of its nicknames, the “Mountain State.”
West Virginia’s economy has prominent industries of agriculture, specifically livestock, chemical manufacturing, and steel and coal mining.
Main livestock from West Virginia include young chickens, beef cattle, dairy products, eggs, turkey, sheep, lamb and farm-raised fish.
Agriculture has always been an important part of the state’s economy, even in its early years. Booker T. Washington was born in Virginia in 1856, but spent many years growing up in West Virginia learning about agriculture. He later founded the Tuskegee Normal and Industrial Institute located in Alabama and dedicated his teachings to industrial and agricultural trainings. Jackson’s Mill, West Virginia, is the site of the first 4-H camp in the United States.
Coal mining has also been an important part in the state’s economy, in early years and present day. Today, the state is one of the top producers in the United States. Other common mining products include petroleum, sand, gravel and natural gas.
There are several people connected to West Virginia that are worth noting.
James Rumsey: (1743-1792) Rumsey is considered to be the inventor of the steamboat. The James Rumsey Technical Institute in Martinsburg is an educational facility named in his honor.
Martin Delany: (1812–1885) He was born in Charles Town and was an African-American abolitionist and author. In 1854, he helped organize the National Emigration Convention. He was also assigned to recruit blacks for the Union Army during the Civil War. He became the first black major in the U.S. Army.
Thomas Jonathon “Stonewall” Jackson: (1824-1863): Born in Clarksburg, Jackson is known for his leading roles in the Confederacy during the Civil War. Today, he is still recognized for his tactics used in the military.
Pearl S. Buck (1892-1973): Buck was born in Hillsboro, but spent most of her early years in China. Many also know her by her Chinese name, Sai Zhenzhu. She won the Pulitzer Prize in 1932 for her novel “The Good Earth.”
Jesse “Don” Knotts: (1924-2006) Born in Morgantown, Knotts is most recognized for his comedic role in The Andy Griffith Show.
George Brett (1953-Present): Born in Glen Dale, Brett is a retired Major League Baseball player. He was a third baseman and designated hitter for the Kansas City Royals for more than 20 years.
West Virginia has many destinations and celebrations, some dating back to the early 1900s.
Beckley Exhibition Coal Mine: This exhibition is a restored coal mine with about 1,500 feet of underground passages for visitors to explore.
Berkeley Springs International Water Tasting: This event brings more than 100 waters from all over. It’s one of the top events in West Virginia.
Camden Park: This park has been visited since the early 1900s. Residents and tourists enjoy this historic park, especially during the summer months.
Harpers Ferry: The scenic views of the Shenandoah and Potomac River, historic sites, museums and other attractions bring almost 500,000 people to the historic national park each year.
New River George National River: This is one of the oldest rivers in North America. Many enjoy canoeing, rafting and tubing down it.
Organ Cave: This cave is one of the largest in the United States. There are more than 40 miles of passageways.
Strawberry Festival: A top fruit festival in the United States featuring entertainment and education. This festival dates back to 1936.
Vandalia Gathering: Located at the Cultural Center and the state capitol grounds in Charleston, this free event celebrates the traditional arts, music, crafts and food of the state.