Accounts receivable financing, also known as invoice factoring, is a type of funding that many companies use in order to get the cash flow that they need. Invoice factoring is a straightforward form of financing, because you are selling your invoices to a third party, known as a factoring company, in exchange for same-day cash.
When you work with Scale Funding over any other factoring company in Newport and Rhode Island, you are creating a relationship with a company that has provided best-in-class factoring solutions for more than 20 years. We pride ourselves on our focus on our customers, our commitment to superior service and our ability to grow with you as your company grows.
Unlike a bank loan or a line of credit, factoring allows your company to get an ongoing cash flow stream when you send Scale Funding your invoices. Getting approved through the bank can take more time than you have to get approved. At Scale Funding, we can get you approved in as little as 15 minutes. We are able to provide you the immediate cash flow you need to pay your bills, buy new equipment hire staff, and much more through our Newport accounts-receivable financing programs.
|Trucking & Freight||Telecom & Wireless|
|Oilfield Services||Heavy Construction|
|Utility & Pipeline||Technology|
|Government Contractors||Staffing Agencies|
|Renewable Energy||Many More|
One of the many reasons that we are the top choice in Newport and the surrounding areas is because Scale Funding has the ability to tailor our programs to fit the specific needs of businesses in many situations and industries. Since our programs vary in size from $50,000 to $20 million, we can be with you every step of the way as you grow.
If one or more of the following situations describes your company, our Newport invoice factoring programs could provide you the cash flow solution that you need:
Get started with Scale Funding today and get the cash your business needs to operate and to grow. Call us at 800-707-4845.
Located on the south end of Rhode Island’s Aquidneck Island, Newport is known as the Sailing Capital of the World. The city has a reputation for being a popular summer resort and wedding destination for America’s wealthiest families. In fact, President John F. Kennedy married his wife, Jacqueline, in a Newport church in 1953.
Seeking religious freedom, a group of English settlers founded Newport in 1639 after splitting off from another group who had settled in the northern portion of the island. The English settlers were far from the first inhabitants, however, as Native Americans had already lived in the area for thousands of years when they arrived. During a time when there was significant religious and political conflict in the Massachusetts Bay Colony, the idea of a settlement that promoted freedom of religion attracted a wide variety of religious groups, including Quakers and Jews, and the town’s population grew rapidly. During the Colonial Era, Newport became an important seaport and trading center for molasses, slaves and rum. At one point it was known as the Rum Capital of the World. When the British occupied the city for a few years during the American Revolution, more than half of its residents chose to relocate. Newport was incorporated as a city in 1853 and, with the introduction of the railroad, it became a summer resort town for the rich. Newport was one of the five original capital cities of Rhode Island, as the state rotated the location of its capital from 1776 until 1900.
As a summer destination for the rich and famous, Newport’s history is deeply intertwined with the hobbies of the upper class. The city earned the nickname “Sailing Capital of the World”, because it is home to some of the most prolific sailing and motor yachts ever built, and shipbuilding was once a very important part of the city’s economy. In addition, Newport hosted the most competitive sailing race in the world from 1930-1983, the America’s Cup.
Newport was the first city to hold a number of sporting events that are national staples today, including the U.S. National Tennis Championships. In commemoration of this, the city hosts the Hall of Fame Tennis Championships each year. Newport also has a long history with golf. In fact, the Newport Country Club was one of the founding clubs of the United States Golf Association and also hosted the first U.S. Open and the first U.S. Amateur golf tournaments.
In addition to sporting events, there are a number of festivals held in Newport during the summer months. Some of these festivals include the Newport Jazz Festival, the Sunset Music Festival, the Newport Film Festival and the Newport International Boat Show.
Newport is one of Rhode Island’s main tourist destination and resort towns, as well as a popular destination for cruise lines. The city welcomes approximately 3.5 million tourists each year. Aside from Newport’s beaches, tourists are drawn to the city’s historical locations. In fact, one of the main drivers for the city’s tourism industry is the Preservation Society of Newport County, which is responsible for the preservation of Newport’s historic architecture, landscapes and decorative arts. Some of the Preservation Society’s biggest draws are tours of Newport’s historical mansions, which were previously owned by wealthy colonial merchants. These tours receive about 650,000 visitors each year, which amounts to more than 940,000 admissions tickets. In addition to daily tours, the Preservation Society has a variety of exhibitions, lectures and annual events.
The United States Navy has had a significant presence in Newport for more than a century. Although the stations and missions have changed over time, the U.S. Navy is currently the largest employer in the city. In addition to jobs within the Navy, its presence also indirectly creates jobs in a variety of related fields, such as high technology and defense. Although many high-tech and defense companies are located in the northern cities of Aquidneck Island, many of the employees choose to live in Newport. Newport is home to the Naval Station Newport, which houses more than 50 different commands, including the Naval Education and Training Center, Naval War College, Surface Warfare Officers School Command, Naval Justice School, and the Naval Undersea Warfare Center. In total, the Naval Station Newport employs more than 5,800 people and has 17,000 students each year. The Navy has an economic impact on the Newport region of more than $1.3 billion annually.