North Dakota Factoring Companies
Gitfex.COM North Dakota Factoring Companies
North Dakota was explored in 1738?1740 by French Canadians led by Sieur de la Verendrye. In 1803, the U.S. acquired most of North Dakota from France in the Louisiana Purchase. Lewis and Clark explored the region in 1804?1806, and the first settlements were made at Pembina in 1812 by Scottish and Irish families while this area was still in dispute between the U.S. and Great Britain. In 1818, the U.S.obtained the northeast part of North Dakota by treaty with Great Britain and took possession of Pembina in 1823. However, the region remained largely unsettled until the construction of the railroad in the 1870s and 1880s.North Dakota is the most rural of all the states, with farms covering more than 90% of the land. North Dakota ranks first in the nation's production of spring and durum wheat; other agricultural products include barley, rye, sunflowers, dry edible beans, honey, oats, flaxseed, sugar beets, hay, beef cattle, sheep, and hogs.Recently, manufacturing industries have grown, especially food processing and farm equipment. The state's coal and oil reserves areplentiful, and it also produces natural gas, lignite, clay, sand, and gravel.The Garrison Dam on the Missouri River provides extensive irrigation and produces 400,000 kilowatts of electricity for the Missouri Basin areas.Known for its waterfowl, grouse, pheasant, and deer hunting and bass, trout, and pike fishing, North Dakota has 20 state parks and recreation areas. Points of interest include the International Peace Garden near Dunseith, Fort Union Trading Post National Historic Site near Williston, Knife River Indian Villages National Historic Site in Stanton, the State Capitol at Bismarck, the Badlands, Theodore Roosevelt National Park, and Fort Abraham Lincoln State Park. On the plateau cattle graze, finding shelter in the many ravines, and large ranges are an economic necessity. In the northwestern area of the state oil was discovered in 1951, and petroleum is now North Dakota's leading mineral product, ahead of sand and gravel, lime, and salt. There are also natural-gas fields. Underlying the western counties are lignite reserves; close to the lignite beds are deposits of clay of such varied types that they serve as both construction and pottery materials.Despite mineral production and somemanufacturing, agriculture continues to be North Dakota's principal pursuit, and the processing of grain, meat, and dairy products is vital to such cities as Fargo, Grand Forks, Minot, and Bismarck. The Missouri and Red rivers, once the major transportation routes, are more important now for their irrigation potential. Several dams have been built, notably Garrison Dam, and a number of federal reclamation projects have been completed as part of the Missouri River basin project. There has also been reforestation. With such attractions as the Badlands, the International Peace Garden on the Canadian border, and recreational facilities provided by reservoirs (resulting from dam building in the 1950s), tourism has become North Dakota's third-ranking source of income, behind agriculture and mineral production.
Account Receivable Credit
Gitfex.COM North Dakota Factoring Companies Provides Factor Funding Company services to all industries:
1. Take Advantage of Early Payment Discounts - Having access to cash enables businesses to save on average 2% by taking advantage of early payment terms offered by suppliers. The points saved by reducing raw materials costs helps to offset the North Dakota Factoring Companies fee.
2. Take Advantage of Volume Discounts - Having cash also enables businesses to buy raw materials in greater volume. This saves money and directly impacts the bottom line.
3. Reduce Late Payment Penalties and Interest Charges - Having immediate cash on hand to pay current obligations as they become due eliminates late charges from suppliers and other creditors.
4. Meet Obligations on Time - Paying vendors on time helps to establish a solid credit track record and allows for increased future credit limits from vendors as well as financial institutions.
companies that use Factor Funding Company
is typically used by consumer product companies. That is, companies that sell
products that ultimately end up in retail stores. Industries in which is commonly used include:
5. Offer Credit Terms to Customers - Offering credit terms to customers is a common way to increase sales by making it " easier" for customers to buy. Having financial backing to carry accounts receivable is essential if a business wants to be able to follow through on its commitments. Reputable factors encourage " managed" growth by consulting with clients regarding exposures and other risks when taking on new credit accounts. For more account receivable collection process information
The difference between North Dakota Factoring Companies and other sources of financing is that the factor actually purchases and tracks commercial invoices. In addition to providing immediate cash on invoices, the factor performs valuable credit analysis on new and existing customers and conducts professional, routine follow up on invoices as they become due.
For the business manager who spends a good portion of the day collecting, bookkeeping and searching for capital, the entire North Dakota Factoring Companies package offers peace of mind. The manager can actually focus on important aspects of the business that are often pushed aside, such as marketing and production
Setting up a North Dakota Factoring Companies relationship is quick and easy in comparison to other forms of financing. Applications simply call for basic company information and a customer list. Years of profitability are not required which makes North Dakota Factoring Companies an option for startups generating receivables. It is possible that funding can occur in as little as a couple of days after the receipt of the application and invoices.
Factor Funding Company is typically used by trucking companies.
Gitfex.COM is a Factoring Company that Provides a wide range of Factor Funding Company financial services
Gitfex.COM North Dakota Factoring Companies Provides Factor Funding Company services to all industries:
Whether you are a machinist operating out of a garage or a staffing company placing hundreds of workers in the largest firms, you undoubtedly face cash flow dilemmas from time to time. The uncomfortable ritual of making incoming cash receipts stretch to cover short term obligations frustrates even the most seasoned business managers.
In recent years, an increasing number of businesses have discovered that North Dakota Factoring Companies can combat the ups and downs of unpredictable cash flow cycles. More importantly, factors are providing the small business community with a viable source of working capital when conventional financing is not always an option.
Currently, $62 billion dollars in invoices are factored in the United States each year. In the last 10 years, the volume of invoices factored has increased by $10 billion dollars.
Most business bankers are a good referral source for reputable North Dakota Factoring Companies companies. Bankers refer to factors because they realize that although the customer may not be bankable at the time of the referral, in a short time it could be a viable candidate for conventional financing. As a short term financing solution, North Dakota Factoring Companies relationships generally run from 6 months to a couple of years.
Historically, the bulk of North Dakota Factoring Companies was predominately in the textile, furniture and apparel industries. Today, North Dakota Factoring Companies firms are working with all types of industries, including: manufacturers, service providers, transportation companies and high technology firms. Locally, as growing Puget Sound firms continue to prosper, suppliers and contractors are looking for additional sources of working capital to accommodate increased sales volume.
Depending on the agreement, businesses can pick and choose which invoices they wish to sell to the factor, who immediately advances eighty percent or more of the face value of the invoices. The balance of the funds, less the discount fee, is released once the invoice is collected.
The cost of doing business with a North Dakota Factoring Companies company is the discount taken on the invoices submitted for funding. Fees range from 3 to 9 percent, depending on volume, credit - worthiness of the customers sold and overall risk. The discount taken is best compared to a merchant accepting a Visa or MasterCard transaction and receiving immediate payment, less a percentage or discount, before the actual cardholder has paid his or her monthly statement.
Gitfex.COM Provides Factor Funding Company Company Services to all states:
Unlike other Companies, Gitfex.COM North Dakota Factoring Companies makes Factor Funding Company easy to obtain with minimal paperwork.
Nationwide commercial factoring services
The fact is that most companies share a common dilemma during periods of rapid growth of incoming orders draining cash flow. North Dakota Factoring Companies not only provides immediate cash but, efficient businesses also use it as a tool to increase profit margins:
Businesses choosing to maintain momentum, despite a lack of conventional financing options, find that North Dakota Factoring Companies not only offers cash but also a stable foundation on which to build. They look to a future of managed growth and profitable performance that will bridge the gap to qualifying for bank financing. For more account receivable collection process information
The overall increase in North Dakota Factoring Companies volume is mainly attributed to the credit crunch in the late 80s. As the availability of bank commercial credit tightens, more businesses look towards alternative sources of financing to achieve growth.
Factoring Companies and need more cash Factor Funding Company services helping companies in their first years of business, as well as companies that are having tremendous growth and need more cash. Factor Funding Company at Gitfex.COM
Each factor operates slightly different. It is important to understand which programs provide the greatest benefits and at the least cost. Several criteria should be addressed when searching for a reputable factor. Are there setup fees, maintenance fees or penalty fees ? Is there a long term contract ? Are there monthly minimums ? Does the factor provide credit and collection services at no additional charge ? What accounting reports will the factor supply ? What value - added services does it provide ?
Company Factoring Programs