Harper helps Seattle and Washington state businesses reach their growth potential.
Washington state, and in particular the greater Seattle area, is a hotbed of innovation and economic growth. Talent in the technology, aerospace and natural resources industries is flowing into the Pacific Northwest. Seattle’s companies deserve a financial partner that understands the unique business models and new technologies that are driving the region’s dynamic growth.
Washington-based startups and small businesses are often turned down by banks and established financial institutions.
The primary reason banks are reluctant to step up and meet this financing need is their industry-wide retreat from small business lending after the financial crisis. Factoring companies can provide a fast and reasonable alternative funding source – enhancing cash flow, funding operations and fueling growth. However, finding the right factoring company partner is essential. Your partner should understand your business and be flexible to how you operate. The relationship should be more than just that of an arms-length capital provider – instead, a trusted partner that can scale with your business. Working with a factoring company like Harper Partners, which specializes in technology and technology-enabled businesses, offers the service and expertise your company deserves.
Invoice factoring, or accounts receivable financing, is a solution that many businesses turn to in order to cover their expenses and invest in growth.
Factoring companies help businesses in all stages grow by advancing them up to 90% of their accounts receivable balance upfront. Once your customer pays, the factoring company rebates the remaining balance to you, minus a small monthly fee ranging from 1% – 3%.
Factoring companies can also handle collections if requested, so you don’t have to worry about collecting payments or checking the credit of new customers. Business overhead is reduced by outsourcing accounting and admin functions to your factoring company partner.
Focus on building your product, not worrying about cash flow.
Invoice factoring is a great financial tool for companies in industries common to Washington such as those listed below. Don’t see your industry? If you sell to other businesses or the government, we can work with you!
Industries, such as distribution and business services, frequently take 75+ days to pay their vendors. This is a reason why many businesses struggle to generate steady cash flow and can’t self-fund growth. Seasonality of certain industries also does not help. Factoring helps businesses facing long payment terms, growing quickly or facing seasonal fluctuations.
Harper has worked with companies in Seattle and the surrounding metropolitan area, Tacoma, Spokane, Bellevue, and many other parts of Washington.
We are a modern factoring company that works with clients all over the U.S., across many different industries. However, we’re particularly adept at partnering with technology and technology-enabled businesses. Our deal sizes range from $50k to $5mm with factoring rates from 1% – 3% per month. We’ve worked with tech startups (both VC funded and bootstrapped), aerospace companies, advertising agencies, transportation companies and IT businesses to name just some of our clients. Along with funding, Harper provides financial consulting, fundraising resources and other partnership benefits.