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1st Commercial Credit provides working capital for the biochemical technology industry.
Date 05-16-2006
Accounts receivable financing has been offered as a source of funding to a newly formed biochemical company with synthetic chemistry patents and a projected sales volume of $2.2 million.
El Paso, TX, May 15, 2006 - 1st Commercial Credit has provided
accounts receivable financing for a biochemical company that specializes in defining and delivering advanced chemical and biochemical technologies. These strategic technologies are employed in the design, discovery, delivery, and development of new drugs and are used by the major fortune 500 pharmaceutical companies during the manufacturing process.
According to Raul Esqueda, Founder and President of 1st Commercial Credit: “I am glad that CFO’s and CEO’s are starting to realize the simplicity of our receivable-based financing program. Here is a perfect example of a biochemical company (with years of research and development) with no historical revenues on their financial statements. Despite this fact, they still have access to an initial $2.5 million in accounts receivable financing to fuel their growth.”
1st Commercial Credit establishes accounts receivable credit lines based on the credit worthiness of their clients’ customers. Accounts receivable financing is not a loan; instead, it is viewed as a purchase of the company's invoices. Clients are able to offer net 30-day terms to their customers and still obtain immediate cash as they generate invoices.
The working capital provided will increase, as needed, in order to sustain exponential growth. 1st Commercial Credit can provide receivable-based credit lines up to $10 million.
By: 1st Commercial Credit, LLC
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US and Canada Tel 1 800 876 6071
United Kingdom Tel 0 800 404 9669
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1st Commercial
Credit, a
factoring company headquartered in El Paso, TX, provides accounts
receivable financing in the US, Canada, and the UK; offers
export trade finance to clients in every major world
market and can convert receivable finance transactions in 17
currencies.
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digitally date stamped and is monitored. Please do not copy without permission.
1st Commercial Credit (SM) is a trademark of 1st Commercial Credit, LLC.
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