The Interstate Capital Group of Companies (“Interstate”) announced today the expansion of the factoring industry’s first and only customized instant on-line factoring rate quote technology. Visitors to Interstate’s flagship website, InterstateCapital.com, may now obtain a customized factoring rate quote online in less than two minutes. According to company president, Tony Furman, all of the Interstate sites will feature the new technology before year end.
Interstate operates several websites that market accounts receivable factoring, a form of commercial lending popular with growing companies in the transportation, staffing, oil field service, and manufacturing industries. According to Furman, “It is extremely rare for a factoring company to issue a written rate quote without first requiring an application and a conversation with a sales representative. Interstate Capital is now able to issue written factoring rate quotes instantly, 24/7–without an application or the need to first speak with our site visitors.”
The new technology has been under development for approximately two years. Built into the technology is a complex decision matrix that involves hundreds of thousands of possible outcomes, all depending on the answers to only five multiple-choice questions securely submitted online. In addition to its flagship site, Interstate also operates CompareFactoringCompanies.com, CheckFreightBroker.com, and FreeMCAuthority.com.
All the Interstate sites are designed to attract the attention of growing companies seeking to improve cash flow by discounting (factoring) their invoices. Furman explains the strategy behind the development of its newest technology, “We understand that providing confidential financial information to a stranger over the phone can be intimidating, so we want to give our site visitors the ability to privately and anonymously discover how affordable factoring can be. The new technology provides the flexibility to obtain a written rate quote in less than two minutes, even during non-business hours .”
About Interstate Capital
Interstate Capital was founded in 1993 in Santa Teresa, New Mexico. The company provides accounts receivable factoring and related services to growing companies located throughout North America. Interstate has successfully funded over 5,000 small and mid-sized businesses for 20 years and currently factors over $.5 billion of receivables annually. Interstate Capital is accredited by the Better Business Bureau and is a member of the International Factoring Association.
Interstate Capital, an El Paso area employer, is proud to announce the establishment of the Interstate Capital Scholarship at the University of Texas McCombs School of Business. The scholarship is awarded annually to El Paso area high school students based on academic merit. The McCombs School of Business MBA Program is ranked 19th in Bloomberg Businessweek’s 2012 biennial ranking of the best business schools in the nation. Cliff Eisenberg, Interstate’s CEO explained Interstate’s decision to underwrite the scholarship, “Our intent was to encourage and assist qualified El Paso area students to attend the flagship university of the state of Texas and one of the premier business schools in the nation. Hopefully, these students will return to the El Paso area with the education they received and become entrepreneurs and leaders of our business community.”
Interstate Capital was founded in 1993 in Santa Teresa, New Mexico. The company provides accounts receivable factoring, a form of commercial lending, to growing companies located in El Paso and throughout North America. Interstate has successfully funded over 5,000 small and mid-sized businesses for 20 years and currently factors over $.5 billion of receivables annually. Interstate Capital is accredited by the Better Business Bureau and is a member of the International Factoring Association.
The Interstate Capital Group of Companies (“Interstate”) announced today the launch of its newest web property designed to educate consumers about the importance of comparing factoring companies before entering into a factoring agreement.
Factoring, a popular form of commercial financing, is used by growing companies to enhance cash flow and fuel growth through the ongoing sale of their invoices (accounts receivable) at a small discount. Factoring companies are highly specialized finance companies that purchase companies’ accounts receivable and provide other services relating to billing and collection of receivables. Interstate is a 20-year old New Mexico based factoring company that purchases over $ .5 billion of invoices annually from thousands of growing companies.
According to Factors Chain International, over $2 trillion of accounts receivable were factored in 2011 by thousands of factoring companies. The proliferation of factoring companies in the past ten years gave rise to the concept behind Interstate’s newest business venture, CompareFactoringCompanies.Com.
Interstate President, Tony Furman, explains, “The importance of comparison shopping cannot be overstated. There is very little uniformity in the world of factoring. When Interstate was formed 20 years ago, all factoring companies were pretty much the same. Now, features, technology, experience level, and pricing vary dramatically from company to company. It is easy for a business owner to make a bad financial decision by selecting a factoring company not well suited to his or her needs or worse, one that is poorly capitalized.” Equally important, the factoring company should be well funded and knowledgeable about your industry.
Factoring variables such as pricing, features, stability, capitalization, experience, and technology, make comparison shopping a necessity. CompareFactoringCompanies.Com was designed to equip the business owner with the tools to make comparison shopping easier.
Contact: Tony Furman