Invoice factoring, also known as accounts receivable financing, is a finance solution many companies use to speed up their cash flow.
The process works by selling your invoices to a factoring company, at a discount, in exchange for immediate cash. When you choose to factor with Scale Funding over other factoring companies in Huntsville, we’ll provide same-day funding, low rates, and competitive cash advances.
While business loans and lines of credit are common funding solutions, our invoice factoring and accounts receivable financing programs offer many benefits to companies that are waiting to get paid from slow-paying customers.
Huntsville Accounts-Receivable Financing Programs
Business Loans & Lines of Credit
|Quick quotes in as little as 15 minutes||Lengthy approval process|
|Same-day funding||Funding in 1-3 months|
|Eliminates cash-flow gap from slow-paying customers||Cash flow gap is still present|
|No debt is created||Debt is created|
|Funding amount grows as your sales grow||Loan is maxed out and new sources of funding needed|
|Free credit reports on your customers||No credit services|
One of the reasons companies choose to work with Scale Funding over other factoring companies in Huntsville and Alabama is because we’re able to customize our programs to fit the unique needs of each business.
If you’re waiting on slow-paying customers and could use the cash to pay your bills, meet payroll, invest in new equipment or anything else, we can help.
We’ve funded start-ups, expanding companies and even those going through financial troubles with our Huntsville invoice factoring programs. Our financing solution is based on your customers’ credit rather than yours so companies with credit issues and business bankruptcies are still able to get the cash they need.
Many industries deal with slow-paying customers. Since 1994, Scale Funding has funded many industries through our Huntsville factoring company programs including:
|Trucking & Freight: hotshots, intermodal, flatbeds, refrigerated trucks and more||Oilfield Services: drilling, gravel haulers, frac sand haulers, pigging, hot oiling, water haulers and more|
|Telecom & Wireless: cell tower contractors, wireless contractors, fiber optic and more||Utility & Pipeline: pipeline contractors, utility locators, sewer maintenance, fabrication and more|
|Heavy Construction: welding, crane operations, HDD, excavation, boring and more||Technology: IT solutions, network administration, website design, software development and more|
|Renewable Energy: solar, wind, hydro, site preparation, site maintenance, site operations and more||Government Contractors: local, state, federal, security, defense, construction, technology and more|
|Staffing Agencies: temporary placements, medical, healthcare, administrative, clerical and more||
Many More: wholesale, manufacturing, distribution, janitorial, apparel, mining and more
Located in northern Alabama, near the border of Tennessee, Huntsville is an important intermodal center. Huntsville is the fifth most populated city in the state, with a population of about 180,000 people.
In 1805 John Hunt, a Revolutionary War veteran, settled in the area of present-day Huntsville and built a cabin beside a large spring, later known as the “Big Spring.” Other settlers followed, all settling near the rich, fertile lands surrounding the Big Spring and the area came to be called Hunt’s Spring. In 1809, a wealthy businessman named LeRoy Pope bought a large portion of the land and built a new town named Twickenham, which he laid out with the Big Spring at the center. However, the name Twickenham wasn’t popular with the residents and they changed the name to Huntsville in honor of the first settler, John Hunt. Huntsville became the first officially incorporated town of Alabama in 1811 and the population grew quickly. The city was named the capital of Alabama when it was granted statehood in 1819, but the capital was moved to Cahawba shortly after, then eventually to Montgomery in 1846. Huntsville became a major center for the cotton trade, which expanded once the Memphis and Charleston railroad was built through the city. During World War II, Huntsville was home to several manufacturing plants for the military, setting the stage for the military presence in the city today.
Huntsville has evolved into an important intermodal center, which began when the International Intermodal Center (IIC) at the Port of Huntsville opened in 1986. The IIC is a one-stop shop for intermodal freight, as it specializes in receiving, transferring, storing and distributing cargo via air, rail, or highway, both domestically and internationally. In addition, U.S. Customs and Border Protection port inspectors, USDA inspectors, freight forwarders and customs brokers are all available on site. The rail terminal for the IIC is served by Norfolk Southern, which has dedicated stack train service to and from both east and west coast ports. The IIC is conveniently located next to the Huntsville International Airport, which provides extensive cargo hub operations, as well as the Jetplex Industrial Park, which has direct runway access for its tenants. In 2009, the Port of Huntsville opened a new 92,000 square foot air cargo building, increasing its intermodal capabilities by 30 percent.
Many manufacturers are drawn to Huntsville because of the city’s advanced intermodal capabilities. In fact, this sector employs approximately one-fifth of the local labor force, which is more than 32,000 people. Huntsville is home to over 220 advanced manufacturing companies that work in a variety of industries, including automotive, aviation, and technology. One such company is Toyota Motor Manufacturing, which has operated an engine plant in the city since 2003. Toyota’s Huntsville engine plant was the company’s first plant outside of Japan to build the V8 engine. Although Toyota was already a significant employer in the region, the company expanded its facilities in 2014, adding 125 new jobs and making the Huntsville plant one of the company’s largest engine plants in the world. Attracted to Huntsville’s talented and experienced workforce, GE Aviation recently announced plans to build two new facilities in the city that will produce components for jet engines and land-based gas turbines.
Aerospace and defense have been a significant part of Huntsville’s economy since the first U.S. Army facilities were built in 1941. The two facilities, one for manufacturing conventional ammunition and the other for manufacturing chemical weapons, led to a rapid increase in the city’s population, as together they employed more than 20,000 people. After World War II, the facilities were no longer needed for their original purpose. As a result, they were combined and collectively named Redstone Arsenal. In 1948, the Army designated Redstone Arsenal as the new home of its rocket and missile development center, which is how the city earned the name “Rocket City.” Shortly after, a group of missile experts, including the German rocket scientist Werner von Braun, were transferred to Huntsville from Fort Bliss, Texas to work in the new Ordnance Guided Missile Center. Today, Redstone Arsenal continues to be the Army’s center for missile and rocket programs.
As a result of the aerospace and defense center, Huntsville has developed a large information technology sector. In fact, more than 300 companies in the region are involved in the design and production of computer related technology. Although there are a number of IT companies that are not related to the aerospace and defense industry, Huntsville has a high concentration of IT companies that manufacture telecommunications hardware, circuit boards, and sensors and radars for advanced missile systems and detection. As such, the city continues to attract these types of companies, as it has a talented workforce to support them.