New and emerging businesses sometimes struggle to build reliable cash flow. Oftentimes, waiting 30 days, 60 days, or more for customer payments puts these businesses at risk. A High Point factoring company like Scale Funding provides invoice factoring to businesses in need of cash.
Invoice factoring is a common financing solution companies use when they are in need of cash. Factoring works by selling your open receivables to a factoring company in exchange for an immediate cash advance. Instead of going through the lengthy process of applying for a business loan or business line of credit, many businesses use factoring because they can get approved and funded quickly.
There are several financing and factoring companies in High Point and North Carolina. However, Scale Funding offers many additional benefits over others.
Invoice factoring is an excellent source of financing for businesses that do not qualify for traditional bank financing. Banks have strict lending guidelines and lengthy application processes. It can take weeks or months to apply for and receive approval for a bank loan.
The application and approval process for invoice factoring is much faster. With Scale Funding, a factoring quote and approval will take only a few minutes. Once approved, we can set up your account and get you funded in a matter of days.
Businesses in a variety of situations use invoice factoring to build stronger cash flow. Start-up companies, those with customers who pay on extended terms, businesses with tax or credit issues, and rapidly growing companies all benefit from the cash flow factoring provided.
Many businesses use High Point accounts receivable financing programs, as they are a quick way to obtain working capital without adding additional debt. Some of the industries we’ve funded over the past 20-plus years include:
One of the reasons businesses choose High Point invoice factoring programs over others is because we’re able to customize each program to fit the needs of each business. Not only do we offer month-to-month contracts, but our funding options range from $50,000 to $20 million, giving plenty of room for growth.
Since we’re not a bank, we can offer more flexibility on approvals. Even if your credit is maxed out or less-than-perfect, we can help. High Point factoring company programs are more dependent on your customer’s creditworthiness than that of your business.
Let us help speed up your cash flow and eliminate the wait on slow-paying customers so you can focus on running and growing your business. For a free, no-obligation factoring quote and approval, call 800-707-4845.
High Point is a city that extends into four counties, including Guilford County, Forsyth, Randolph, and Davidson. Found in the Piedmont Triad, High Point has a population of 108,629 and is the ninth-largest city in North Carolina.
Home to the talented Fantasia Barrino, winner of the 2004 American Idol and a Grammy Award-winning singer, this city is also home to many other notable personalities who have made their mark in various sectors. Other famous figures include Fantasia’s brother Ricco Barrino, who is also a Grammy Award winner, and Luke Appling who played for the Chicago White Sox and was inducted into the Baseball Hall of Fame in 1964.
German immigrants and English Quakers were among the first Europeans to settle in Guilford. High Point was in an advantageous position concerning transport. It sat on North Carolina’s highest point on the 1856 railroad that was between Charlotte and Goldsboro. It was, therefore, easy to transport raw materials to and from the city which contributed significantly to its rapid growth.
Although there were settlers as early as 1750, it was not until 1859 that the city was incorporated. The primary economic activities at that time were woodworking, tobacco, and textiles. The first High Point furniture factories came into being in 1889, and the city finally hit its jackpot.
High Point is also the proud home of High Point University, which was established in 1924. The college is a liberal arts institution with students from all over the country and is ranked as one of America’s best institutes in the 2013 edition of U.S News and World Report. It comes first on the list ahead of several comprehensive universities in the South and ranks nationally in the top 100.
High Point enjoys a thriving furniture industry. The bi-annual exhibition, which takes place in April and October, brings in traders from all over the world. In addition to this, the city has incorporated photography, pharmaceuticals, and banking to its business portfolio. The High Point Market is recognized as the high point of the city’s economy.
The city hosts these three renowned universities:
High Point University is a private college established in 1924 and affiliated with the Methodist church. John Wesley is also a private Christian institution that is interdenominational.
The Quakers founded many private schools for children in the 19th century. In the 1880s, a school for African Americans was established in Asheboro by the New York Yearly Meeting of the Society of Friends. The group was an affiliate of the Quakers from the state. It moved to High Point in 1891, and an African American educator called Alfred J. Griffin took over from the Quakers as principal.
There are institutions in the city that are run by the city’s school system. High point Central and T. Wingate Andrews High Schools are public institutions. There are other privately owned schools in the city, like:
A few of High Point’s must-see attractions include:
High Point is a haven of economic activity and a beautiful city with an endurable climate to live in or visit. April and October are great months to visit because one can catch the action during the bi-annual exhibitions.