As a leading factoring company in Texas, Viva Capital Funding, LLC, is ready to affirm your business goals, ease your cash flow concerns, and so much more.
Industries in Texas That Use Factoring Financing
While factoring solutions are suitable for almost all B2B transactions, industries specific to Texas that most frequently use factoring financing include:
Being close to the Permian Basin, umpteen oilfield services companies operate in Texas. Oilfield factoring opens up cash flow for immediate reinvestment into the business rather than being tied up in unpaid invoices.
Transportation factoring is particularly prevalent in a state that has more miles of roads and rail than any other.
Healthcare, manufacturing, staffing, service providers, and many more appreciate that invoice factoring gets your invoices paid almost immediately instead of having to wait the usual 30-120 days for your customers to pay.
Invoice Factoring Financing
According to Business Insider, 82% of businesses fail due to cash flow problems. B2B businesses can overcome this with a short-term, debt-free solution offered by an invoice factoring company.
In contrast to a traditional bank loan that is tedious to get and comes with hard limits and interest, factoring companies let you take advantage of your accounts receivables for immediate working capital that is fast and flexible.
This is how simple the process is at Viva Capital Funding:
- You make a sale and issue invoices due in 30 to 90 days.
- Validate the credit of the customer with Viva Capital Funding, LLC.
- Fulfill the order for the authorized customer.
- Viva Capital buys and gives you cash for invoices.
- Let the Viva Capital accounts receivables experts take care of the collection process for you.
- Audit your invoices 24/7 with our Accounts Receivable Reporting.
Called the “Lone Star State” in honor of the flag that indicates it as a former independent republic, the state of Texas has been ruled by six countries over time – Spain, France, Mexico, Republic of Texas, Confederate States of America, and the United States.
Encompassing its capital, Austin, plus Houston, San Antonio, Dallas, and El Paso, Texas is the second-largest state (268,820 square miles) and is bigger than any European country! It is also the second most populous state in the United States with an estimated 29.2 million individuals calling it home. The appeal of a cost of living 6.1% lower than the rest of the country, a positive job market, and temperate weather have made Texas one of the fastest-growing states.
Texas is synonymous with oil – and rightly so too, as it produces almost 40% of America’s oil and 24% of the country’s natural gas. As well as Exxon Mobil Corporation, Valero Energy Corporation, Phillips 66, and ConocoPhillips headquarters, there are many associated enterprises such as:
- Water and gravel haulers
- Fracking and trenching service providers
- Roustabout services, and more.
A real powerhouse of the United States, Texas is also the largest producer of wind power.
The adage that things are always bigger in Texas certainly applies to the amount of farmland. Texas is ranked number one in terms of land in farms with 127.0 million acres. No wonder the economy has been driven by agriculture. While livestock production is huge (Amarillo produces almost a quarter of all meat in the U.S.), the state is also a prolific harvester of citrus, corn, cotton, hay, peanuts, pecans, rice, sorghum, vegetables, and wheat. Texas also produces more than $13 billion worth of wine each year – now that’s something to toast!
Home to 50 Fortune 500 company HQs, Texas boasts:
- Top firms in technology, computers, electronics, and aerospace
- A civilian labor force of 14 million
- 10% of the nation’s total manufacturing output
- Nearly 1 million women-owned businesses (up 150% over the last 20 years)
Texas’s Business Resources
Business owners in Texas have numerous resources available to help them grow their businesses, connect through networks, or participate in mentorship programs. Here are some notable organizations:
Based in Austin, the Texas Economic Development Council (TEDC) is a non-profit association of professionals committed to the state-wide development of economic and employment opportunities. The members may be diverse, but they share a common goal – to bring new investment and jobs to Texas.
The Texas Association of Manufacturers advocates and defends a business environment that is pro-growth to ensure a robust manufacturing sector and a competitive Texas.
The Small Business Administration – Texas provides assistance and counseling to encourage the opening and growth of small businesses in order to boost the economy.
With over 20 years of experience funding a variety of businesses, Viva Capital Funding, LLC, is the leading factoring company in Texas. Get in touch to find out how we can help you improve your cash flow and support your business aspirations.