While there are several ways to finance a business, many companies turn to invoice factoring to get the quick cash they need.
If you’re not familiar with our invoice factoring programs, here’s a quick comparison chart with our programs versus business loans and lines of credit.
Anchorage Invoice Factoring Programs
Business Loans & Lines of Credit
|Approvals in as little as 15 minutes
|Lengthily approval process
|Funding in 24 hours or less
|Funding in 1-3 months
|No monthly interest
|Monthly interest paid
|No debt created
|Eliminates cash-flow gap from slow-paying customers
|Cash-flow gap still present
|Free credit checks and monitoring on your customers
|No credit services
|Professional account collectors
|No collection services
If you’re in need of quick cash and are waiting to get paid, contact us today. Scale Funding offers custom Anchorage accounts-receivable financing programs. From start-ups and growing companies to those with financial challenges, our programs can work for you.
Our programs aren’t dependent on your credit or financial history, but rather your customers. We make sure that you’re working for creditworthy customers to ensure you’ll get paid for the work you do.
If you want to take back control of your business finances and eliminate your cash-flow gap, our Anchorage factoring company programs are your solution.
For more than 22 years, we’ve provided a cash-flow solution to thousands of companies across the United State and Canada. As long as your business invoices other business and is waiting to get paid, our Anchorage invoice factoring programs can help.
|Oilfield Services: frac sand hauling, roustabouts, gravel hauling, water hauling, drilling and more
|Government Contractors: local, state, federal, construction, security, technology and more
|Utility & Pipeline: pipeline construction and maintenance, utility locators, sewer construction and maintenance and more
|Heavy Construction: crane operators, HDD, equipment rentals, excavating and more
|Trucking & Freight: flatbeds, vans, refrigerated trucks, heavy hauling, intermodal and more
|Staffing Agencies: general labor, temporary placements, administrative, clerical, medical and more
|Telecommunication: cell tower maintenance and construction, tower erectors, wireless contractors and more
|Renewable Energy: wind, solar, water, construction, maintenance, operations and more
|Technology: IT services, network administration, data migration, website design and more
|Many More: manufacturing, logging, wholesale, distribution, printing, welding and more
For many years, Russia controlled a large portion of present day Alaska. In 1867, the United States Secretary of State, William H. Seward, purchased the area from Russia for $7.2 million. Although critics of the purchase referred to the new U.S. Territory as “Seward’s Folly,” they were quickly proven wrong when gold was discovered there in the 1890s. The area that now makes up the city of Anchorage began as a rail construction port during the construction of the Alaska Railroad in 1914. Despite its early years as a tent city for rail construction workers, Anchorage was officially incorporated in 1920. The population of Anchorage began to increase rapidly as air travel and the military were established in the region. By 1951, Anchorage had two airports, Merrill Field and Anchorage International Airport; and two military outposts, Elmendorf Air Force Base and Fort Richardson. In 1964, a massive 9.2 magnitude earthquake hit Anchorage, causing over $1 billion in damage and killing 115 people. The next few years were spent rebuilding the city and although some people left after the earthquake, the discovery of oil in Prudhoe Bay in 1968 led to another significant increase in the population.
Today, Anchorage serves as a major transportation hub for Alaska. In fact, the Port of Anchorage receives over 95 percent of all freight entering the state and is currently in the process of expanding. Additionally, the Anchorage International Airport is the second busiest cargo airport in the United States, as it is a strategic location for freight traveling between the lower 48 states and Asia.
Since World War II, the military has had a significant impact on the economy of Anchorage. In fact, active duty military personnel and their dependents accounted for over ten percent of the population of Anchorage in 2012. The primary base in Anchorage is Joint Base Elmendorf-Richardson, which was created by the combination of Elmendorf Air Force Base and Fort Richardson in 2010. A number of different military units are housed at this base, primarily from the Army, Air Force or Coast Guard. In addition to the 11,000 active duty military, Joint Base Elmendorf-Richardson provides an additional 5,100 military related jobs and more than 6,000 jobs with indirect ties. The base impacts the economy of Anchorage in a variety of ways. Not only from the direct impact of the service provided by the military, but also from additional spending on contractors, facility maintenance, and the money spent in local businesses by the troops and their families.
Although Alaska has an abundant amount of natural resources, petroleum has the largest impact on the state’s economy. In fact, Prudhoe Bay is still one of the largest oil fields in North America. Despite the decrease in production due to falling oil prices, the Alaska Oil and Gas Association estimates that 90 percent of the state’s revenue will still come from the oil and gas industry. Within the state, Anchorage acts as a hub for the industry, as it is home to the Alaskan headquarters of a majority of the oil producers and suppliers to the industry. As a result, most of the state’s economic activity related to the petroleum industry passes through Anchorage. It also contains more than 50 percent of the direct and indirect jobs created for the oil industry in the state. In Anchorage, the industry supports approximately 31,000 jobs, which accounts for about 15 percent of the total employment for the region.
Fortunately, despite the decrease in the economic impact of the petroleum industry in Alaska, the tourism industry seems to be making up the difference. In fact, tourism in Alaska is on the rise, with a record of two million visitors in 2015, which brought in over $2.42 billion in visitor spending. Anchorage accounts for a large portion of the state’s tourism activity, as more than 40 percent of visitor spending in the state is in this region. The tourism industry supports almost 20,000 jobs in the Anchorage region, meaning that one out of every ten jobs in Anchorage is in this industry. Although a large portion of the tourism revenue comes from leisure and recreation, Anchorage is also a popular destination for meetings and conventions. Meetings and conventions contribute an average economic impact of $94 million each year. Alaskan cruises also have a significant impact on the tourism industry, as about one-third of all cruise passengers travel through Anchorage.