Financing for Supplemental Educational Service (SES) Providers Jan 08, 2008 The "No Child Left Behind Act" (NCLB) has opened up many opportunities for Supplemental Providers. Supplemental educational services (SES) are additional academic instruction designed to increase the academic achievement of students in schools. The billing cycle for supplemental educational services takes approximately 45 to 60 days to collect, thus putting a substantial financial strain on providers. Due to the high demand of funding this type of service provider, 1st Commercial Credit has opened up its funding parameters to finance receivables for SES providers. Not only are the State and Local Education Agencies faced with having adequate and approved supplemental providers, but the greatest challenge falls on supplemental providers. The lack of working capital has created a cash flow gap between the time they pay teachers and collect for services rendered. Whereas some states allow payment releases of only one time per month, and others allow bi-monthly progress billing. Financing SES providers is a new kind of receivable to evaluate, and in order to finance SES providers, a finance company must be familiar with the invoicing process, electronic logs, and backup documentation usually submitted for collections. Receivable financing will allow a 24 hour cash advance to providers for invoices ready to submit to the state or agency, this will help providers make payroll or pay their sub-contractors on a timely manner. Receivable financing is established based on the account debtor's ability to pay, since the receivable is backed by the state, funding and has been allocated for this program, the credit limit is not based on the provider's balance sheet or financial history, rather on the state backing the program. Supplemental providers can easily secure financing up to $250k with no financials or tax returns. The most common requirements for funding are the following: - Copy of articles of incorporation or DBA filing. - Copy of the executed agreement for each agency to be factored. - Copy of insurance certificate. - Sample of an invoice and any back up documentation. - A short application. - Signed proposal explaining the rates. - Current aging (Outstanding invoices if any). - Business must be free and clear of any liens. Accounts receivable based credit lines can be set up in a matter of 5 to 7 working days. A provider can set up an account ready to factor and secure financing for services to be performed and invoiced. Start Factoring Today! View Recent Transactions This Document has been digitally date stamped and is monitored. Please do not copy without permission. About 1st Commercial Credit, LLC 1st Commercial Credit, a nationwide factoring company headquartered in El Paso, Texas. 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.   Other Articles: 02-05-2005 Factoring is an alternative form of business financing 03-09-2005 Factoring Companies: Number one providers for growth capital in the IT Staffing industry. 11-11-2004 Nurse Registry benefits by Business Manager Program Termination 03-29-2005 Why should I choose a full-service factoring company instead of a Bank offering factoring services. 05-10-2005 What to look for in a factoring company? 07-05-2005 Is Accounts Receivable Factoring right for your Business? 10-10-2005 The Hidden Value in Factoring Accounts Receivable - Credit Expertise. 12-30-2005 Press Release: Flexible International Finance available to US Exporters 12-31-2005 Banks should consider Export Trade Finance Outsourcing 01-12-2006 How to use Accounts Receivable Financing in an acquisition of a business. 01-15-2006 Press Release: 1st Commercial Credit expands receivable financing to Mexico 01-31-2006 Texas oil drill bit manufacturer taps into a $1 million receivable factoring credit line. 02-14-2006 Press Release: 1st Commercial Credit Allocates $30 Million for Fort Bliss 8a Contractors 03-13-2006 PR: 1st Commercial Credit offers new freight factoring products for the transportation industry. 05-08-2006 1st Commercial Credit offers factoring and accounts receivable financing in Quebec, Canada. 07-18-2006 PR: Free Freight Matching Load Board sponsored by 1st Commercial Credit 08-28-2006 How to hurdle fast growth financing without adding debt to your business? 09-18-2006 How to improve cash flow without alienating customers or stringing out suppliers. Other related pages by industry: Factoring Temporary Staffing Companies Factoring Medical Providers Factoring Medical Staffing Agencies Factoring IT Staffing Firms Asset Based Lending 1st Commercial Credit (SM) is a trademark of 1st Commercial Credit, LLC.

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