In a business atmosphere which is still rebounding from a fairly recent downturn, a number of industries are still obliged to closely watch costs and to find new sources of funding to keep their businesses going. Here are some industries which have especially been helped by making use of factoring provided by alternative lenders.

Staffing Agencies

These businesses commonly experience seasonal slowdowns, as well as slow-paying customers. On the other hand, they can also experience rapid growth for their companies in tandem with increased client demands. All these things make it difficult to maintain positive cash flow, and factoring can help out by paying monthly expenses and meeting payroll needs.

Construction Companies

Cash flow can be a problem for a number of construction companies, especially when materials like lumber and mortar experience prolonged price rises. Clients are often slow to pay invoices, and there are built-in seasonal slowdowns in the industry which also can slow cash flow to a snail’s pace. Factoring can be a big help in smoothing out those cash flow lumps.

Manufacturing Companies

Manufacturing companies typically are subject to rising costs for shipping and fuel, as well as production costs and rising tariffs. To keep things on an even keel, factoring can supply much-needed funding and help maintain positive cash flow.

Information Technology

Always highly competitive by nature, IT businesses must have a reliable source for cash flow, especially for smaller-sized companies. With these businesses, factoring can help meet payroll expenses, operating costs, and funding for growth into new areas and markets.

Healthcare

It’s very common for healthcare organizations to experience slow-paying customers, as well as price rises for supplies and medications. When this happens, factoring can be a big help in providing an alternative source for funding.

Energy Companies

Slow Accounts Receivable often results in a huge drain on cash flow for these businesses. When opportunities for growth do emerge, huge capital investment is likely to be involved, and this is an area where factoring can inject some much-needed financing.

Pharmaceuticals

Some of the smaller-sized pharmaceutical companies do not have access to the same kind of financing that the large corporations do. Factoring for these companies can be a godsend by replenishing inventory, fueling growth and expansion, and meeting payroll as well as other operating expenses.