Invoice factoring, also known as accounts receivable financing is an alternative business financing solution use to speed up their cash flow.
The process works by selling your invoices to factoring company in exchange quick cash. Invoice factoring takes away the wait and stress of wondering when you’ll get paid from your customers.
While there are many factoring companies in Pittsburgh and the surrounding areas, companies choose to work with Scale Funding because of our low rates, high advances and same-day funding.
Some companies look to a business loan or line of credit for a funding solution. While these solutions can provide cash, the approval process is lengthy, the amount you’re approved for is capped and it does not eliminate your cash-flow gap. Conversely, our Pittsburgh invoice factoring programs offer quick, 15-minute approvals, no limits and pays you on your invoices same-day.
Since 1994, Scale Funding has provided Pittsburgh accounts-receivable financing programs to many different industries. As long as you invoice other businesses and are waiting to get paid, we can help you.
Some of the industries we’ve funded over the years include:
|Staffing Agencies||Government Contractors|
|Heavy Construction||Renewable Energy|
Our flexible and custom programs are another reason companies choose to work with Scale Funding over other factoring companies in Pittsburgh and Pennsylvania.
We’re able to provide financing to a wide-range of business and financial situations including:
Pittsburgh, Pennsylvania lies at the heart of “The Rust Belt,” a city built on steel production and manufacturing. There’s a lot more going on in the city though than just factories. Pittsburgh is a city with a blossoming arts center, a robust culinary and nightlife scene, and a growing tourism industry that welcomes millions of visitors each and every year. It has grown beyond just a horizon full of smokestacks to a city skyline rich with opportunity that can hold its own with any city in the United States.
Pittsburgh was originally named by General John Forbes in honor of the first Earl of Chatham, William Pitt. The name Pittsburgh went through a couple iterations throughout the years. It’s the only U.S. city that has the “h” at the end of the “burgh”, and it was actually removed between 1890 and 1911, but locals were so upset by it that they successfully petitioned to get the original name reinstated. The city truly came into its own during the Civil War, in which steel production was at an all-time high. None other than Andrew Carnegie (future namesake of Carnegie Hall) combined several smaller steel companies into the industry monolith U.S. Steel. With the boom in industry, Pittsburgh became the 8th largest city in the United States by 1910, with over 500,000 immigrants coming via Ellis Island alone. Today, Pittsburgh continues to be an economic powerhouse. During the recession of the 2000s, Pittsburgh was adding jobs and shrinking its unemployment rate at a time when most other major cities were doing the opposite, and the housing market saw a 10 percent appreciation in property values, the highest of all the metropolitan areas in the country.
The downtown area of Pittsburgh is divided up into 90 different distinct neighborhoods. The most well-known of these is The Golden Triangle. This downtown district is located between the Allegheny River and the Monongahela River, which join to form the Ohio River. It is in this metropolitan hub that there are centers for major corporations like the aforementioned U.S. Steel, PNC Bank, PPG, Heinz, Alcoa, Federated Investors and Bank of New York Mellon. This concentrated economic hub alone causes Pittsburgh to be ranked 25th in the nation for jobs and 6th in job density. The key to the city’s economic viability has been in its versatility. The steel industry is not the financial giant it once was, so the overall economic makeup of Pittsburgh has shifted. Today, the city is a major center for nuclear engineering, biomedical technology, finance, education robotics, health care and tourism. The largest single employer in the city is the University of Pittsburgh Medical Center which has 48,000 employees alone. Interestingly, the actual number of jobs within Pittsburgh hasn’t changed much over the last 50 years, which has contributed to its economic stability and fascinated economists. The general idea is that a city with a certain population density can only feasibly support so many jobs. If there are more jobs than people, the companies suffer and if there are more people than jobs unemployment goes up. Pittsburgh’s ability to stay in the “sweet spot” has created an unprecedented beneficial environment for both companies and its employees.
As mentioned, tourism is a growing part of Pittsburgh’s economic landscape. The downtown area contains a 14-square bock featuring a collection of theaters, stages, art galleries and nightlife. PNC Broadway is a theater that hosts a series of stage plays that come directly from New York. The city also has a robust dance scene, with the Pittsburgh Ballet Theatre putting on several productions a year. The company usually partners with the Pittsburgh orchestra to create a visual and auditory symphony. If visitors are more into modern dance, than the Pittsburgh Dance Council brings in traveling productions that showcase contemporary dance. Finally, there is the Pittsburgh Opera, which is constantly showcasing new and classic performances. If visitors are timid about making a first trip to the opera, don’t worry. The website has a guide aimed at genre newcomers going over everything from what to wear to how to purchase tickets.
Beyond the performing arts, Pittsburgh also offers several different art places for those looking to leisurely stroll through a gallery. The Carnegie Museum of Art was established by industrialist Andrew Carnegie in 1886 and was the first art museum in the city. Carnegie’s vision was for a museum and gallery that housed the works of “old masters of tomorrow” meaning this was one of the first museums that actively set out to collect contemporary works of art in addition to older ones globally renowned artists. The museum houses over 35,000 pieces of art as its permanent collection, and hosts another 15 traveling exhibits every single year. The type of art displayed has grown from the original collection of paintings, drawings, and sketches to include films, photography, instillations, and even music. On the weekends, the Carnegie Museum of Art hosts a variety of art classes. Most of these are divided by age group with specific classes for kids, teens and adults. There are even classes that are specifically provided for art educators.
While Pittsburgh obviously appreciates the arts, it is known as a rough-and-tumble town and nothing embodies that more than its various professional sports franchises. The most popular of these is the NFL’s Pittsburgh Steelers. The Steelers are one of the most successful franchises in the history of the league. They have more Super Bowl wins (6) and have hosted the conference championship game (11) more times than any other team in the NFL. They also have eight AFC championship titles, which is enough to tie the record of the Denver Broncos and New England Patriots. Interestingly, the Pittsburgh Steelers were originally named the Pittsburgh Pirates after the already established baseball team, a common practice at the time. Speaking of baseball, the Pirates have been in Pittsburgh since 1881and played in the first ever World Series in 1903. They’ve been a major part of MLB history throughout the years, most notable when they won the 1960 World Series with a walk-off homer, which was the only time a game seven of the World Series has been won by home run. Finally, there is the professional hockey team, the Pittsburgh Penguins. The Penguins were formed in 1967 and was a part of the first ever NHL expansion, when the league doubled its size from six to twelve teams. In their history they have competed in the Stanley Cup finals five times, winning four of the five championships. Their fans are notoriously loud and rowdy, and affectionately call their home stadium “the igloo.”
Pittsburgh has a huge food and nightlife scene that keeps locals busy and attractions tons of tourists throughout the year. The city has a proud culinary tradition, best exemplified by the iconic pierogi. This Polish dish was brought over by immigrants in 1912, but took on a whole new life within the city and became a symbol for the typical hard working, blue-collar Pittsburgh steel worker. There are many different recipes, but the original pierogi is pasta dough filled with potato, cheese, onion and sauerkraut. The best spots to drink and socialize downtown continue that history of working class people trying to get by. Downtown Pittsburgh is host to a couple of speakeasies hidden locations that are modeled after secret bars that continued to sell liquor during the Prohibition.
Pittsburgh is a tough city, but one that has grown far beyond its industrial roots into a modern day metropolis. There are an abundance of ways to engage in the arts, take in some quality food and drink, catch a game, or just take in the sights and sounds of the city. Pittsburgh only looks to continue to grow well into the future, as its economic stability is rock solid and more and more businesses continue to thrive within its city limits.