Information for the city of Phoenix
Phoenix, the capital of Arizona and seat of Maricopa County, is the largest city in the state. It is located in the center of Arizona, on the Salt River.The prehistoric Hohokam Indians first settled the area about 300 B.C. and dug a system of extensive irrigation canals for farming. The Indian culture mysteriously broke up in the 1400s.The site was permanently resettled by Jack Swilling and Lord Darrell Duppa about 1867. Because the city was founded on the ruins of the ancient civilization, it was named Phoenix after the legendary bird that could regenerate itself. The irrigation canals were restored for farming, and ranching and prospecting began in the surrounding area. The city quickly grew as an important trading center. Phoenix was incorporated as a city in 1881 and was made the territorial capital in 1889. It became the state capital when Arizona was admitted to the Union in 1912.Partly owing to its warm, dry climate, the city developed rapidly in the decades after World War II. Between 1950 and 1990 the population increased from 100,000 to 980,000.
Phoenix continued was one of the fastest growing cities in the U.S. between 1990 and 2000 when its population increased another 34%, to 1.3 million. A more modest 9% increase brought its numbers to 1.44 million in 2010.Phoenix is a commercial and manufacturing center in an agricultural region. Major industries include government, agricultural products, aerospace technology, electronics, air conditioning, leather goods, and Indian arts and crafts. Mining, timbering, and tourism also contribute to the economyPhoenix, city (1990 pop. 983,403), state capital and seat of Maricopa co., S Ariz., on the Salt River; inc. 1881. It is the largest city in Arizona, the hub of the rich agricultural region of the Salt River valley, and an important center for research and development, electronics, telecommunications, semiconductors, and the aerospace industry. Food processing and the production of aircraft parts, electrical appliances, agricultural chemicals, machinery, tools, plastic and wood products, cosmetics, and leather goods remains central to its manufacturing base. Greater Phoenix is a popular resort area, and tourism is also important to the economy.
The city was founded on the site of ancient Native American canals; hence its name, signifying a new town which had risen from the ruins of an old civilization. In 1868, pioneers developed what remained of the Native Americans' irrigation system; water was diverted from the Salt River, and farming began, supplemented by mining and ranching in the surrounding desert and mountains. The completion (1911) of the Roosevelt Dam on the Salt River brought power and abundant water to the community, and opened a new era of farming in the valley.Phoenix grew as an important trade and distribution center. It boomed during World War II, when three airfields were opened. The phenomenal growth continued after the war; veterans who had been stationed in Phoenix returned to stay, and manufacturing concerns moved there to utilize the large labor supply.
The expanding metropolitan area includes the suburbs of Mesa, Scottsdale, Tempe, Glendale, Chandler, and Peoria, all of which are among the fastest growing cities in the United States.Among the area's many outstanding parks are the Desert Botanical Gardens, Camelback Mountain, and the nearby South Mountain Park, which has an active gold mine. Also in the area are a number of Native American communities and reservations, national monuments, and state parks. Among its museums are the Heard Museum, with Native American art of the Southwest; the Phoenix Art Museum; the Pioneer Arizona Living History Museum, with pioneer relics; the Pueblo Grande Museum, containing excavations of Native American ruins c.800 years old; and the Arizona Capitol Museum. Other attractions are the Phoenix Zoo, the Arizona Science Center, and the Mystery Castle, built of native rock.Phoenix is the seat of the Univ. of Phoenix, Arizona State Univ. West, Grand Canyon Univ., and Southwestern College. It has a symphony orchestra, as well as opera and ballet companies. .
Information for the state of Arizona
"The 2011 total gross state product was $259 billion. This figure gives Arizona a larger economy than such countries as Ireland, Finland, and New Zealand. The composition of the state's economy is moderately diverse; although health care, transportation and the government remain the largest sectors. The hub of economic output remains in the Phoenix metropolitan area accounting for approximately 74% of the states domestic product. The per capita income is $40,828, ranking 39th in the U.S. The state had a median household income of US$50,448, making it 22nd in the country and just below the U.S. national median.
Early in its history, the economy of Arizona relied on the ""five C's"": copper (see Copper mining in Arizona), cotton, cattle, citrus, and climate (tourism). At one point, Arizona was the largest producer of cotton in the country. Copper is still extensively mined from many expansive open-pit and underground mines, accounting for two-thirds output of the nation. Nearly 70 percent of the land in Arizona is owned by the U.S. government, which leases a portion of the public domain to ranchers or miners."
Lack of immediate cash flow can hurt your company and hinder growth and expansion.
Arizona Invoice Factoring Company
The fact that there's no limit to the level of financing is the major advantage Invoice Factoring has over traditional bank lending. As your company continues to grow, so too should the funding of invoices grow with you. -Arizona Invoice Factoring Company
HOW TO MAKE CASH FLOW PROBLEMS GO AWAY
Arizona Invoice Factoring Company Articles
Questions You Need to Ask Your Invoice Factoring Company
In today’s marketplace we’re seeing more and more Invoice Factoring companies, and Invoice Factoring fees, rates and agreement terms have become very competitive. This means that, as a potential Invoice Factoring customer, this competitiveness should work to your advantage. However, there are some issues you must consider when choosing a Invoice Factoring company to suit your specific requirements.
Before entering into any Invoice Factoring agreement, here are some important questions you should ask –
What Are Your Terms?
As a Invoice Factoring customer, you’ll be looking for as much flexibility in your Invoice Factoring agreement as possible. It may be that you choose a long term contract with your Invoice Factoring company if it includes flexible rates or a price break. In today’s competitive market, many Invoice Factoring companies are agreeing to adjust their rates based on competitive offers from other factors or increased Invoice Factoring volume.
The majority of Invoice Factoring agreements are a one year contract, which appears to be industry standard, and this contract will renew automatically unless you provide the Invoice Factoring company either 60 or 90 days notice.
What’s Your Fee Structure?
The fee structure may vary depending on both the Invoice Factoring company involved and your industry. Some Invoice Factoring companies charge a flat fee, which is calculated as a percentage of the total value of the invoice. On the other hand, other Invoice Factoring companies charge additional fees to cover costs associated with doing business, such as money transfers, software, and so on. Ensure that the Invoice Factoring company you’re considering working with is completely upfront and transparent with you about its terms and fees.
Are You Able to Offer Both Recourse and Non Recourse Invoice Factoring?
Recourse Invoice Factoring:
Recourse Invoice Factoring is less expensive than non recourse Invoice Factoring. With recourse Invoice Factoring, you (being the client) are ultimately responsible if the Invoice Factoring company is unable to collect on your customers’ invoices. However, you’re not necessarily required to pay the debt out of pocket if you have a recourse agreement and the customer defaults on payment. It may be that the Invoice Factoring company will withhold a portion of future cash payments or payments held in reserve, with the money being placed in an escrow account until such time as the debt has been paid.
Non recourse Invoice Factoring:
When you have a non recourse Invoice Factoring agreement, the credit risk for the collection of customers’ invoices lies with the Invoice Factoring company.Therefore, we believe it’s to your advantage to use a Invoice Factoring company that offers both recourse and non recourse Invoice Factoring, simply because you may find that some of your customers are more suitable for recourse Invoice Factoring than others. In addition, you need a Invoice Factoring company with a strong credit team because they can work with you to ensure you’re dealing with good customers: to a certain degree this will relieve some of the pressure of being responsible for bad debt.
How Long Has the Invoice Factoring Company Been in Business?
With the marketplace becoming increasingly competitive, today we’re seeing the creation of more and more Invoice Factoring companies. However, many of these companies are recent start ups, with limited industry experience. Make sure you research the Invoice Factoring company’s history prior to entering into any Invoice Factoring agreement: also research its background into providing financial services in your specific industry.
Do You Have the Capital to Grow with Me?
The fact that there’s no limit to the level of financing is the major advantage Invoice Factoring has over traditional bank lending. As your company continues to grow, so too should the funding of invoices grow with you. Do your research and learn as much as possible about your potential Invoice Factoring company’s client base and their capital structure.
Does this Invoice Factoring company have a limit to the number of debtors it takes on? What’s a typical account size? What’s the Invoice Factoring volume of their largest client? You’ll probably find that Invoice Factoring companies who have been serving your industry for many years will have greater capacity to finance your company as it continues to grow.
Is There Anything Else You Can Do for Me?
Obviously, Invoice Factoring is more expensive than a conventional bank loan, and this is partly due to the back office services that your Invoice Factoring company is able to provide. Besides collections and financing, many Invoice Factoring companies will evaluate companies in your industry and provide credit information. Therefore, when looking for a Invoice Factoring company for your business, make sure the one you choose offers additional services and products that can assist you in making good business decisions.
How Do We Start Invoice Factoring?
Fortunately, Invoice Factoring companies are not unduly concerned about your balance sheet before they decide to work with you, unlike banks. However, they do have a process to follow when selecting new clients, so be sure you understand what the Invoice Factoring company is looking for when it’s considering you as a client. Are they looking at your credit ratings and/or your customers’ payment histories?
Are they looking at your personal credit score?
In many cases a company will start Invoice Factoring because it’s looking for a quick injection of cash, so you need to know how many days the Invoice Factoring company will take to review and process your application.
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