Invoice factoring is also known as accounts receivable financing. Our invoice factoring programs work by selling your invoices to Scale Funding at a discount in exchange for immediate cash.
While there are several ways to fund a business such as business loans and lines of credit, invoice factoring offers companies a cash-flow solution that eliminates the wait to get paid from slow-paying customers.
There are several other differences between invoice factoring and business loans and lines of credit. Here are just a few.
Bakersfield Invoice Factoring Programs
Business Loans & Lines of Credit
|Quick & simple approval process||Extensive approval process|
|Approval amount dependent on the amount of work you do||Approval amount dependent on your credit and financial history|
|No monthly interest paid||Monthly interest paid|
|Free credit checks on your customers||No credit services|
|No limits, amount increases with the more contracts you win||Limits, the amount provided is capped|
|No debt created||Debt added on balance sheet|
There are many factoring companies in Bakersfield and the United States, but businesses choose to work with Scale Funding because of our easy-to-setup and customizable programs.
We understand that waiting on slow-paying customers causes a cash-flow gap and sometimes financial troubles. No matter if you’re a start-up company, expanding, have credit issues, tax liens, or have filed for business bankruptcy, we can work with you.
Contact a financial representative today to discuss how our Bakersfield accounts receivable financing programs can work with your business needs. Our monthly programs range from $50,000 to $20 million, making it a fit for almost any business size.
Scale Funding has more than 22 years of experience funding businesses in many industries. Some of these industries include:
|Trucking & Freight: flatbeds, reefers, intermodal, hotshots, heavy hauling and more||Telecommunications: fiber optic installation, cell tower contractors and more|
|Oilfield Services: roustabouts, drilling, frac sand haulers, gravel haulers, water haulers and more||Utility & Pipeline: pipeline maintenance and construction, utility locating services, sewer and more|
|Heavy Construction: environmental services, grading, HDD, excavation, welding and more||Technology: IT solutions, consulting, web design, network administration, security solutions and more|
|Renewable Energy: wind, water, solar, maintenance, operations, construction and more||Government Contractors: construction, defense, security, local, state, federal and more|
|Staffing Agencies: healthcare, general labor, administrative, clerical, temporary placement and more||Many More: manufacturing, distribution, printing, apparel, wholesale, janitorial services and more|
Located at the southern end of the San Joaquin River, in the agriculturally rich San Joaquin Valley, Bakersfield has a very vibrant agricultural industry. Bakersfield is the county seat for Kern County and, because of its centralized position in the state, is within a four-hour drive of 90 percent of California’s population.
Many generations of Native American tribes had lived in present-day Bakersfield before the first European, a Spanish missionary, came to the area in 1776. The area’s remote location left it largely uninhabited until the discovery of gold in the 1850s. As a result of a large number of settlers that had come to the area, Colonel Thomas Baker was appointed to make boundaries for a formal town in 1869. Since the area had already picked up the name “Baker’s field” from the travelers resting at Colonel Baker’s alfalfa fields on the way to the gold fields, it became the official name when it was incorporated as a city in 1873. In 1899, the discovery of oil just north of town brought an influx of new residents and turned Bakersfield into a boomtown. Population growth remained a trend in the area and from the years 2000 to 2012, the population of Bakersfield increased over 43 percent.
As a part of the San Joaquin Valley, one of the largest producing agricultural areas in the world, Bakersfield has a significant agricultural sector. Grapes are the leading crop produced in the metro area, and Kern County as a whole. Following grapes, the leading crops are almonds, citrus, dairy, and cattle. These five commodities account for more than two-thirds of the value of agricultural production in the county. In 2015, the value of the total agricultural output for Kern County was $6.8 billion, and Bakersfield is responsible for a large portion of that. One of the largest agricultural companies that call Bakersfield home is Bolthouse Farms, which employs approximately 2,800 people and encompasses 60,000 acres. Historically, Bolthouse Farms primarily produced carrots, but they broke into the premium beverage market in 2003 with their own fresh juice line, which is often found in the produce section of the supermarket. After being family owned for ninety years, the company was purchased by the Campbell Soup Company in 2012 as a way to remake their brand and compete in the new market, where customers want to be more informed about the source of their food.
When most people think of oil production in the United States, they think of Texas or North Dakota. However, Bakersfield and the rest of Kern County produce more oil than any other county in the nation. In fact, the oil produced in Kern County accounts for 70 percent of the oil production in California and 10 percent of the total oil production in the United States. As such, petroleum extraction and refining are a large part of Bakersfield’s economy. Unfortunately, this makes it vulnerable to fluctuations in the oil market. The recent slump in oil prices has caused significant economic repercussions to the city as well as its residents, but those who have been in the industry for a long period of time are used to the ups and downs. As a result, they are more prepared and optimistic about the industry turning around.
Bakersfield has become a major distribution hub for many large corporations. In fact, it was recently named one of the most cost-effective cities for warehouse and distribution work in the United States by The Boyd Co. This has led to a substantial amount of companies choosing Bakersfield as the location to build their distribution centers. In addition to saving money, companies who establish a warehouse in the area benefit from Bakersfield’s central location and copious amount of empty land for development. Some of the major companies with distribution warehouses in Bakersfield include Ross Dress for Less, American Tire Distributors, and Target.
Manufacturing is also a significant industry for Bakersfield. In addition to manufacturing that is related to oil and agriculture, Bakersfield is home to the largest ice cream plant in the United States. Originally built in 1988 by Nestle Ice Cream, the company completed a $100 million expansion to the facility in 2005 after acquiring Dreyer’s Grand Ice Cream. The expansion more than doubled the original square footage and added an additional 250 jobs. The facility runs 24 hours a day, seven days a week and produces approximately 98 million dozen frozen snacks and 70 million gallons of ice cream per year.