Invoice Discounting or “Factoring” is selling the interest in your accounts receivables or invoices to a factor at a discount. Although in Europe, the term “invoice discounting” may vary in definition from country to country. In the United States it still refers to factoring of accounts receivable with notification to the customer. Another related term that is used is “Non-Notification Factoring” or “Confidential Factoring” which the factoring company has little or no involvement with the collections of invoices being financed.

Non-Notification factoring is uncommon due to the stringing underwriting which almost is equal to banking guidelines. Most businesses looking for an alternative form of financing is because they are no longer bankable. 1st Commercial Credit will evaluate a client’s request for “Non-Notification Factoring" on a case by case basis.

Call Now at 1 800 450 9653 and request a factoring proposal with no obligation.

Our core financial service is notification factoring and does not require financials, the process is simple with a more basic credit analysis focusing on the quality of the account debtors (your customers). Most funding transactions (depending on the industry) may take only 3 to 5 working days vs. months by another lending institution.

Factoring rates as low as 1.59%  ( Factoring Rates subject to monthly volume and industry). 

What kind of business can qualify for a factoring service?

• Any Business can qualify for factoring so long as they:

  • Sell credit worthy businesses.

  • Have not pledged accounts receivable as collateral.

  • Sell to commercial accounts (no individual consumers).

• Most of our clients are either:

  • fast growing companies whose past earnings and sales histories will not justify the increased borrowing necessary to acquire needed raw materials and supplies.

  • start-up operations with no financing base to rely upon or

  • companies with seasonal or uneven sales patterns.

  • Principals with bad credit and cannot obtain traditional financing.

What industries are eligible for factoring services?

We are adding new industries all the time. Here is a list of some industries we are currently factoring:

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Factoring for Manufacturers and Distributors

Manufacturing plants, packaging companies, technology importers, electronics,  automotive parts distributors, and any business that sell credible accounts. Set up an account in 3 to 5 working days. No financials needed, No up-front fees to setup.

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Freight Factoring for Trucking and Transportation Companies

We factor all transportation companies including Long Haul - LTL and Truck load, Local Delivery companies, Freight Brokers, Air Freight carriers and Hazardous Hauling. You can set up an account in 3 to 5 working days and freight bill funding occurs same day or within 24 hrs.  More Info

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Factoring for Temporary Staffing Firms

We can help you grow your company with unlimited payroll funding , whether you're a start up or a multi-million dollar operation. Set up an account in 3 to 5 working days, no financials needed, no up-front fees to start. Our clients provide staffing for various industries including Professional, Office Services, and Manufacturing.   More Info

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   Factoring for Medical/Healthcare Staffing Agencies

We specialize in Factoring Medical Staffing agencies and know credit line facilities and cash flow for your business are not easy to obtain nowadays. Collecting from hospitals, nursing homes, physical therapy centers and others related are no problem for us. We understand the industry because We Know Your Customers More Info

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Factoring Service Providers

We are always adding new industries and will consider factoring service providers in any industry. Set up your factoring account in 3 to 5 working days, no up-front fees to begin funding and no financials will be required.  More Info

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Factoring Medical Receivables for Healthcare Providers

Medical receivable funding is a means by which the healthcare provider receives immediate cash for his/her billings to third-party payors (i.e. commercial insurance companies, HMO’s, Blue Cross-Blue Shield, Medicare and Medicaid). Clients include nursing homes, laboratories, physical therapy centers, practice physicians, ambulance companies, hospitals and more. Please note that this program is different than commercial accounts billing. More Info

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Factoring for Government Contracts

We know your government contract cash flow problems: Big contracts use up all your operating capital and pay net 30 to 60 days later. Cash flow shortages in weekly payroll and fixed overhead. Passing up new contracts and sometimes can't even fulfill the ones you have on hand. Call us now! and we can set up your account in 3 to 5 working days. We have experienced account executives that deal with government assignments. We have specialized experts that are familiar with the "Assignment of Claims" which is a federal law which allows and specifies the procedures for assigning financial rights to invoices of government contractors.  More Info

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Have you exhausted your efforts at the bank? Don't wait, you could lose out on business opportunities without adequate funding in place.

 Request a factoring proposal now with no obligation and see if this program is right for you.

What is a factoring credit line?

• The Invoices to your customers for goods delivered or services rendered can be converted into a "Factoring Business Credit Line" from which you may draw cash to better manage your business. Draw only as much as you need and pay only for what you use. There is no faster financial service available for businesses today. Request a factoring proposal now!

Factoring invoices is a very simple process with us.

• Set up your account in 3 to 5 working days.

• No financials needed, No up front fees.

• Advances are made same day or within 24hrs.

• Quick credit checks for prospective customers.

• No minimum invoice fees, No credit facility fees.

• Bad credit or previous bankruptcy - No problem.
   

Frequently Asked Questions about Factoring

How does Factoring Work? (View Presentation)

Articles related to Factoring:

Article:

• 02-05-2005 Factoring is an alternative form of business financing

• 02-18-2005 A true story about a Staffing Firm in financial trouble

• 02-19-2005 More Trucking Owners turn to factoring as their safety net

• 03-05-2005 Freight Factoring Services provides profitability for small trucking companies

• 03-09-2005 Factoring Companies: Number one providers for growth capital in the IT Staffing industry.

• 11-11-2004 Nurse Registry benefits by local bank terminating their factoring service.

• 03-10-2005 Is an SBA loan the best answer for your business?

• 10-10-2005 The Hidden Value in Factoring Accounts Receivable - Credit Expertise.

• 12-02-2005 Small and Medium Size Businesses are playing a large role in exporting to China.

• 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.

• 08-28-2006 How to hurdle fast growth financing without adding debt to your business?

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  Currently factoring in the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.