Entrepreneurial States and Construction Factoring

A new report just came out on the most entrepreneurial states in the US, noting that people were more likely to launch businesses in the state of Arizona than in any other state in the country in 2011,  according to the Kauffman Index of Entrepreneurial Activity.

Why?  Arizona has benefited from a  number of entrepreneurs – some of whom are retired – migrating from places like California because business and property taxes are lower, as is workers’ compensation,  said Arizona Commerce Authority. This state’s  labor pool is also highly educated, while the Arizona State University and the University of Arizona  graduate many tech and science grads.  And what’s more,  the state of Arizona gives out grants to those that offer in-house job training.

Today tech firms dominate Arizona’s new business arena, with software and semiconductor makers as well as solar, clean-tech and renewable energy technology firms.

This news is in turn encouraging more entrepreneurs with new businesses to try The Interface Financial Group factoring services to remain cash rich and to grow. Construction factoring has long been strong in the Arizona real estate and building markets.

The reason construction factoring works for sub contractors, contractors, general managers and/or builders is because so often in the middle of a construction project, the funds run out due to unexpected labor or materials costs.  The construction industry benefits tremendously from factoring because no longer is construction company required to wait for payment before starting on the next phase of a project. Rather a sub-contractor can realize quick turnaround in as littles as 24 hours, on accounts receivable due for completed stages of a  project. This increases the company’s ability to start on the next phase of construction.

IFG Network is one of very few U.S. factoring companies that is willing to provide construction factoring services.

This means if  your construction firm is interested, needs short term financing against completed construction jobs, just give us a call at 877-854-4064.

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