We Deliver The FUNDS
0.69% to 1.59%
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A Factoring Company With Supply Chain Finance Solutions
Accounts receivable financing is used by businesses to convert sales on credit terms for immediate cash flow. 1st Commercial Credit adopts a quick and simple approval process and expedites initial funding in 3 to 5 working days.
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Invoice Factoring Delivers More Operating Capital?
1st Commercial Credit provides Invoice Factoring for just about every industry. We can set up your account in 3 to 5 working days, up to $350,000 with no financials needed.
We offer funding for small and large companies ranging from as little as $10,000 a month to $10 million in credit line facilities.
A factoring company like 1st Commercial Credit can help your company by delivering the funds when it's needed the most. Once we set up a customer on a receivable based financing program, we can offer other financial instruments like supply chain financing, short term cash advances against future orders and purchase order financing. These types of products could be advantageous to businesses with seasonal sales or other fluctuating capital demands. Our decision making is within hours when a client requests additional working capital once a factoring line of credit is set up.
What is Accounts Receivable Financing?
Receivable financing is structured like an ongoing seller/purchase agreement, not a loan.
1st Commercial Credit is an accounts receivable finance company that specializes in many industries and financial tools to help businesses grow. Receivable financing, also known as invoice factoring is a method used by businesses to convert sales on credit terms for immediate cash flow.
Financing accounts receivable has become the preferred financial tool in obtaining flexible working capital for businesses of all sizes.
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The receivable credit line is determined by the financial strength of the customer (Buyer), not the client (The seller of the receivables). Manufacturing Companies and Service Providers use invoice factoring so they can compete and maintain their buyers by offering longer than normal payment terms.
Flexible Funding on Accounts Receivable
After your application is approved, the next step is to set-up your account. It takes three to five business days to get your account up and funded with our accounts receivable financing program. Once your account is approved, we can fund the invoices and advance you the funds in 24 hours.
Unlike other accounts receivable financing companies, 1st Commercial Credit makes receivable financing easy to obtain with minimal paperwork. Our decisions are not based on financials, tax returns or even equity to debt ratios. We make decisions primarily on the invoicing process and the credit strength of the account debtor (buyer).
We specialize in evaluating and financing accounts receivable and can make a prompt decision within a day. This financial solution involves very little underwriting. The approval process is simple and we can expedite initial funding in 3 to 5 working days. Our clients can enjoy the benefits of our prompt service and begin to use their funds within days of completing an application.
Flexible Funding on Accounts Receivable
After your application is approved, the next step is to set-up your account.
It takes only 3 to 5 business days to get your account up and funded with our accounts receivable financing program. Once your account is approved, we can fund the invoices and advance you the funds in 24 hours.
More About Invoice FactoringBusinesses Have More Access to Cash Flow Using Factoring Companies
We realize that financing the growth of your business can be a challenge. Newly developed or established businesses selling on credit terms will eventually need more working capital due to growth. If your credit sales to commercial accounts have created a cash flow shortage in your business, then your company will benefit the most by utilizing our invoice factoring service. Business owners realize that there is no need to borrow money from a bank in order to offer credit terms to customers when utilizing factoring companies.
The Hidden Collateral Factoring Companies Prefer: Accounts Receivable
Businesses that sell on credit terms have a hidden asset that most owners do not realize can be used for collateral. 1st Commercial Credit specializes in collateralizing and financing accounts receivable. The receivables are pledged as collateral and the business may draw cash against the eligible accounts receivable at any time. Accounts receivable factoring is not a loan, so there is no need to make payments or add debt to your business.
Accounts Receivable Financing is our Business.
Business Qualifications for Receivable Financing & Factoring
Our financing programs can accommodate companies with seasonal or uneven sales patterns or start-up operations with no financial base to rely upon. Any business can qualify for receivable financing if it generates sales on open credit terms to customers with financial credit strength. Most of our clients are trying to find a solution to finance their growth or whose past earnings will not justify a traditional loan or credit line increase.
What Industries Qualify for Receivable Finance?
Every industry is evaluated differently because no industry invoices the same method. Not all factoring companies accept every industry. As a rule of thumb, your business must sell to a good credit worthy account debtor (customer), a receivable or invoice that can be verified or has an acceptance (signed off) by the account debtor. Receivable financing is available to all industries that provide services, or deliver products to commercial accounts. The sale must be "final sale" with no contingencies or disputes. The service or product must be completely delivered in order for an invoice (receivable) to be eligible for funding.
Invoice factoring for business owners is a very time-consuming task in keeping up with submitting invoices along with backup documentation. Our affiliate company has developed a system that allows an easy to use consolidated feature that batches up invoices in the Factoring Module. The batch is prepared and ready to be sent out to us at any time. Learn More About MyBizPad
