MyFactoringCompany.COM Dallas Factoring Companies
offering Factor Funding Company products to all businesses.
Dallas is the ninth-largest city in the United States and the third-largest city in the state of Texas.The bulk of the city is in Dallas County, of which it is the county seat. However, slices of the city are located in Collin, Denton, Kaufman, and Rockwall counties. The city had a population of 1,197,816 in 2010, according to the United States Census Bureau.The city is the largest economic center of the 12-county region. Dallas?Fort Worth?Arlington metropolitan area had a population of 6,645,678 in 2012. The metroplex economy is the sixth largest in the United States, with a 2010 gross metropolitan product of $374 billion. Its 2010 Real GDP amounted to $325 billion.Dallas was founded in 1841 and formally incorporated as a city in February 1856. The city's economy is primarily based on banking, commerce, telecommunications, computer technology, energy, healthcare and medical research, transportation and logistics. The city is home to the third largest concentration of Fortune 500 companies in the nation. Located in North Texas, Dallas is the main core of the largest inland metropolitan area in the United States that lacks any navigable link to the sea.The city's prominence arose from its historical importance as a center for the oil and cotton industries, and its position along numerous railroad lines. With the advent of the interstate highway system in the 1950s and 1960s, Dallas became an east/west and north/south focal point of the interstate system with the convergence of four major interstate highways in the city, along with a fifth interstate loop around the city. Dallas developed a strong industrial and financial sector, and a major inland port, due largely to the presence of Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world.In the latest rankings released on September 14, 2011, Dallas was rated as an Alpha- world city by the Globalization and World Cities Study Group & Network and is the only city in the South Central region to achieve that status. Dallas is also ranked 14th in world rankings of GDP by the Organization for Economic Co-operation and Development
1. Take Advantage of Early Payment Discounts - Having access to cash enables businesses to save on average 2% by taking advantage of early payment terms offered by suppliers. The points saved by reducing raw materials costs helps to offset the Dallas Factoring Companies fee.
2. Take Advantage of Volume Discounts -
Having cash also enables businesses to buy raw materials in greater volume. This saves money and directly impacts the bottom line.
5. Offer Credit Terms to Customers -
Offering credit terms to customers is a common way to increase sales by making it " easier" for customers to buy. Having financial backing to carry accounts receivable is essential if a business wants to be able to follow through on its commitments. Reputable factors encourage " managed" growth by consulting with clients regarding exposures and
other risks when taking on new credit accounts. For more account receivable collection process information
The difference between Dallas Factoring Companies and other sources of financing is that the factor actually purchases and tracks commercial invoices. In addition to providing immediate cash on invoices, the factor performs valuable credit analysis on new and existing customers and conducts professional, routine follow up on invoices as
they become due.
For the business manager who spends a good portion of the day collecting, bookkeeping and searching for capital, the entire Dallas Factoring Companies package offers peace of mind. The manager can actually focus on important aspects of the business that are often pushed aside, such as marketing and production
Setting up a Dallas Factoring Companies relationship is quick and easy in comparison to other forms of financing. Applications simply call for basic company information and a customer list. Years of profitability are not required which makes Dallas Factoring Companies an option for startups generating receivables.
It is possible that funding can occur in as little as a couple of days after the receipt of the application and invoices.
Factor Funding Company is typically used by trucking companies.
Whether you are a machinist operating out of a garage or a staffing company placing hundreds of workers in the largest firms, you undoubtedly face cash flow dilemmas from time to time. The uncomfortable ritual of making incoming cash receipts stretch to cover short term obligations frustrates even the most seasoned business managers.
"Mineral resources compete with industry for primary economic importance in Texas. The state is the leading U.S. producer of oil, natural gas, and natural-gas liquids, despite recent production declines. It is also a major producer of helium, salt, sulfur, sodium sulfate, clays, gypsum, cement, and talc. Texas manufactures an enormous variety of products, including chemicals and chemical products, petroleum, food and food products, transportation equipment, machinery, and primary and fabricated metals. The development and manufacture of electronic equipment, such as computers, has in recent decades become one of the state's leading industries; the area around Dallas?Fort Worth has become known as ""Silicon Prairie,"" a name now also extended to Austin and its suburbs. Agriculturally, Texas is one of the most important states in the country. It easily leads the nation in producing cattle, cotton, and cottonseed. Texas also has more farms, farmland, sheep, and lambs than any other state. Principal crops are cotton lint, grains, sorghum, vegetables, citrus and other fruits, and rice; the greatest farm income is derived from cattle, cotton, dairy products, and greenhouse products. Hogs, wool, and mohair are also significant. Among other important Texas crops are melons, wheat, pecans, oats, and celery. Texas also has an important commercial fishing industry. Principal catches are shrimp, oysters, and menhaden"
In recent years, an increasing number of businesses have discovered that Dallas Factoring Companies can combat the ups and downs of unpredictable cash flow cycles. More importantly, factors are providing the small business community with a viable source of working capital when conventional financing is not always an option.
Currently, $62 billion dollars in invoices are factored in the United States each year. In the last 10 years, the volume of invoices factored has increased by $10 billion dollars.
Most business bankers are a good referral source for reputable Dallas Factoring Companies companies. Bankers refer to factors because they realize that although the customer may not be bankable at the time of the referral, in a short time it could be a viable candidate for conventional financing. As a short term financing solution,
Dallas Factoring Companies relationships generally run from 6 months to a couple of years.
Historically, the bulk of Dallas Factoring Companies was predominately in the textile, furniture and apparel industries. Today, Dallas Factoring Companies firms are working with all types of industries, including: manufacturers, service providers, transportation companies and high technology firms. Locally, as growing Puget
Sound firms continue to prosper, suppliers and contractors are looking for additional sources of working capital to accommodate increased sales volume.
Depending on the agreement, businesses can pick and choose which invoices they wish to sell to the factor, who immediately advances eighty percent or more of the face value of the invoices. The balance of the funds, less the discount fee, is released once the invoice is collected.
The cost of doing business with a Dallas Factoring Companies company is the discount taken on the invoices submitted for funding. Fees range from 3 to 9 percent, depending on volume, credit - worthiness of the customers sold and overall risk. The discount taken is best compared to a merchant
accepting a Visa or MasterCard transaction and receiving immediate payment, less a percentage or discount, before the actual cardholder has paid his or her monthly statement.
MyFactoringCompany.COM Provides Factor Funding Company Company Services to all states:
Nationwide commercial factoring services Over 70 years of account receivable collection process experience Up to 97% advance rates
Our unique funding capabilities include private sources that are not restricted by banks
allowing us to offer you services that other account receivable collection process companies can't match.
Our customers tell us that our combination of low rates, flexible contracts, and exceptional service make us the best choice for account receivable collection process services.
We have been providing account receivable collection process services nationwide for decades and we have customers in hundreds of industries. Including Oilfield and Gas, Trucking and Freight Brokers, Manufacturing, Staffing and Recruitment, and many more .
Above average advance ates
Experienced account management
Credit management services
Same day funding
Increased cash flow
Improved financial statement
Cash for expansion and marketing
Improved credit rating
Increased purchasing power
Timely payroll and tax payments
Professional credit checking services
Professional collection services
No loan payments
Reduced time spent on collections
Reduced collection costs
No incurred debt
Factors can help those firms that banks often find difficult to approve such as start - up companies whose growth outstrips cash. The primary focus in a Dallas Factoring Companies relationship is the credit - worthiness of the customers being invoiced and the client s ability to produce a quality product or service. Simply put, if the business has an acceptable product or service that it provides to a creditworthy customer then the business is a candidate for Dallas Factoring Companies.
The fact is that most companies share a common dilemma during periods of rapid growth of incoming orders draining cash flow. Dallas Factoring Companies not only provides immediate cash but, efficient businesses also use it as a tool to increase profit margins: Read Here For More Factor Funding Company information
Businesses choosing to maintain momentum, despite a lack of conventional financing options, find that Dallas Factoring Companies not only offers cash but also a stable foundation on which to build. They look to a future of managed growth and profitable performance that will bridge the gap to qualifying for bank financing.
For more account receivable collection process information
The overall increase in Dallas Factoring Companies volume is mainly attributed to the credit crunch in the late 80s. As the availability of bank commercial credit tightens, more businesses look towards alternative sources of financing to achieve growth.
Factoring Companies and need more cash Factor Funding Company services helping companies in their first years of business, as well as companies that are having tremendous growth and need more cash. Factor Funding Company at MyFactoringCompany.COM
Each factor operates slightly different. It is important to understand which programs provide the greatest benefits and at the least cost. Several criteria should be addressed when searching for a reputable factor. Are there setup fees, maintenance fees or penalty fees ? Is there a long term contract ? Are there monthly minimums ? Does the factor provide credit and collection services at no additional charge ? What accounting reports will the factor supply ? What value - added services does it provide ?
"In its beginnings, Dallas relied on farming, neighboring Fort Worth's Stockyards, and its prime location on Native American trade routes to sustain itself. Dallas' key to growth came in 1873 with the building of multiple rail lines through the city. As Dallas grew and technology developed, cotton became its boon and by 1900 Dallas was the largest inland cotton market in the world, becoming a leader in cotton gin machinery manufacturing. By the early 1900s Dallas was a hub for economic activity all over the Southern United States and was selected in 1914 as the seat of the Eleventh Federal Reserve District. By 1925 Texas churned out more than ? of the nation's cotton crop, with 31% of Texas cotton produced within a 100-mile (160 km) radius of Dallas. In the 1930s petroleum was discovered east of Dallas near Kilgore, Texas. Dallas' proximity to the discovery put it immediately at the center of the nation's petroleum market. Petroleum discoveries in the Permian Basin, the Panhandle, the Gulf Coast, and Oklahoma in the following years further solidified Dallas' position as the hub of the market.The end of World War II left Dallas seeded with a nexus of communications, engineering, and production talent by companies such as Collins Radio Corporation. Decades later, the telecommunications and information revolutions still drive a large portion of the local economy. The city is sometimes referred to as the heart of ""Silicon Prairie"" because of a high concentration of telecommunications companies in the region, the epicenter of which lies along the Telecom Corridor located in Richardson, a northern suburb of Dallas. The Corridor is home to more than 5,700 companies including Texas Instruments (headquartered in Dallas), Nortel Networks, Alcatel Lucent, AT&T, Ericsson, Fujitsu, Nokia, Rockwell Collins, Cisco Systems, Sprint, Verizon Communications, XO Communications and until recently CompUSA (which is now headquartered in Miami,FL).In the 1980s Dallas was a real estate hotbed, with the increasing metropolitan population bringing with it a demand for new housing and office space. Several of Downtown Dallas' largest buildings are the fruit of this boom, but over-speculation and the savings and loan crisis prevented any further additions to Dallas' skyline. Between the late 1980s and the early 2000s, central Dallas went through a slow period of growth and has only recently recovered. Since 2000, the real estate market in the Dallas?Fort Worth metroplex has been relatively resilient. However, Dallas is among the largest cities in the U.S. where rent declined significantly. Whereas the national decline in rent is approximately 4%, Dallas rent declined an average of 8% in early 2010.Texas Instruments, a major manufacturer, employs 10,400 people at its corporate headquarters and chip plants in Dallas. Defense and aircraft manufacturing dominates the economy of nearby Fort Worth.The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies,and the DFW region as a whole has 20. In 2007?08, Comerica Bank and AT&T located their headquarters in Dallas. Irving is home to four Fortune 500 companies of its own, including ExxonMobil, the most profitable company in the world and the second largest by revenue for 2008, Kimberly-Clark, Fluor (engineering), and Commercial Metals. Additional companies headquartered in the Metroplex include Southwest Airlines, American Airlines, RadioShack, Neiman Marcus, 7-Eleven, Brinker International, AMS Pictures, id Software, ENSCO Offshore Drilling, Mary Kay Cosmetics, Chuck E. Cheese's, Zales and Fossil. Corporate headquarters in the northern suburb of Plano include HP Enterprise Services, Frito Lay, Dr Pepper Snapple Group, and JCPenney. Many of these companies?and others throughout the DFW metroplex?comprise the Dallas Regional Chamber.Susan G. Komen for the Cure, the world's largest breast cancer organization was founded and is headquartered in Dallas.In addition to its large number of businesses, Dallas has more shopping centers per capita than any other city in the United States and is also home to the second shopping center ever built in the United States, Highland Park Village, which opened in 1931.Dallas is home of the two other major malls in North Texas, the Dallas Galleria and NorthPark Center, which is the 2nd largest mall in Texas. Both malls feature high-end stores and are major tourist draws for the region.According to Forbes Magazine's annual list of ""The Richest People in America"" published September 21, 2011, the city itself is now home to 17 billionaires, up from 14 in 2009. In 2009 (with 14 billionaires) the city placed 6th worldwide among cities with the most billionaires.The ranking does not even take into account the 8 billionaires who live in the neighboring city of Fort Worth.Dallas is currently the third most popular destination for business travel in the United States, and the Dallas Convention Center is one of the largest and busiest convention centers in the country, at over 1,000,000 square feet (93,000 m2), and the world's single-largest column-free exhibit hall"