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.
1st Commercial Credit provides a variety of purchase order financing solutions to meet your trade financing needs. P.O. financing is suitable for any wholesaler, reseller, importer or any company that purchases and resells goods.
1st Commercial Credit is an invoice factoring company that understands the difficulties that come with running a business that has cash flow problems. As a result, we are prepared to advance you with cash as quickly as possible based on the value of your invoices. You will be able to fulfill your normal commitments and begin to consider strategies to expand your business.
After we get your signed agreement, we will finance you within 3-10 business days. To accelerate your funding, you can provide some invoices to be financed with the signed contract. Following the initial investment, your firm may expect to receive funds within 24 hours of invoice verification.
It is straightforward to qualify for an accounts receivable finance program. Most businesses that sell on credit will be authorized. There are, however, some fundamental qualifying factors that you should be aware of such as the fact that the account debtors must have strong credit and a long payment history. The factoring business will then assign a credit limit to each account that you intend to factor. Ultimately, this limit can be raised or lowered as needed.
A significant challenge for medium and large-sized companies is financing their business's development and growth to benefit from expanding market opportunities. Companies have to be ready to make compromises regarding payment terms and deadlines to close deals in the current economy.
It has also become increasingly more complicated to secure loans from banks and other financing sources. This situation has pushed companies to lack the much-needed liquidity to operate in high-demand seasons and have the budget to move forward.
A company expanding into new markets will need to have access to liquidity to obtain more customers and ensure sustainable growth. Enough liquidity will allow companies to secure early payment discounts and volume discounts provided by suppliers, resulting in a lower cost of inventory and an increased working capital.
One of the most reliable and common financing alternatives for businesses to access working capital is factoring. Invoice factoring involves a third party, 1st Commercial Credit (the factor), who purchases a company's account receivables and, in exchange, provides a large percentage of the total amount of those receivables in the form of fast cash. This cash will allow you to fund payroll, pay employees, take care of bills, operational costs, and continue developing the business.
Unlike banks, 1st Commercial Credit makes factoring lending decisions based on the quality of the receivables instead of the company's credit score, financial records, or financial ratios. We factor manufacturing companies, and our factoring services will allow you to grow your funding capabilities along with sales. In addition, the factoring company can provide extra complimentary services such as collection services, debt monitoring, and accounts receivable management.
Business owners know that adequate working capital is crucial to keep running operations. Being able to make payments to employees, creditors, and suppliers is vital to the overall health of any business. The manufacturing industry is incredibly delicate when it comes to monitoring and making sure to have healthy working capital. In this sector, production and supplier expenses typically will come months before the goods are produced and sold to consumers.
When planning how to prepare and act in these situations, good inventory management is also essential and can ultimately impact manufacturers' working capital estate. Manufacturers need to ensure that the demand and inventory are looked at with scrutiny and try to have the estimations be as accurate as possible. Knowing how much to produce and when will aid manufacturers keep a healthy business. Inventory financing companies can help enterprises to plan and finance inventory.
In the healthcare industry, waiting long periods to be paid is a common thing. Slow payers could be hurting your growth, and if your business could potentially benefit from getting paid sooner, 1st Commercial Credit has a solution with its customized medical receivables factoring. There are two kinds of companies that can benefit from accounts receivable factoring in the healthcare industry.
The first type is a vendor that provides services or sells goods to the healthcare industry, for example, nurse staffing, transcription, etc. The second one is a provider that bills third-party payers like insurance companies, Medicaid, or Medicare.
The first type of business we discussed earlier involves entrepreneurs who have a service-oriented company serving the healthcare industry. When working with medical staffing, your business will have the financial means to hire new employees, expand the business, and even open new locations. With this type of financing, there are no limits to the amount of funding your company can receive.
Some of the companies benefiting the most from this financial solution include medical supply companies, medical staffing agencies, temp nurse agencies, outsourced medical companies, medical billing services, among others. We also have extensive experience providing receivable financing for respiratory staffing agencies.
1st Commercial Credit is a medical factoring company providing factoring to many healthcare service providers for more than 18 years.
Many businesses struggle with whether to replace their old and obsolete equipment, which can be costly and disrupt the business cash flow, or continue to operate with the same machinery and have their efficiency and quality negatively affected, resulting in losing business. We know getting the right equipment for your business may require additional working capital that may not always be available. Our equipment financing loans and leases are helping companies get the equipment they need when they need it. Equipment financing is the process of obtaining equipment using a lease or a loan. An equipment loan allows owners to purchase the equipment with payments made over a period of time without having to give up a considerable chunk of business cash upfront.
On the other hand, equipment leasing gets you the equipment without actually owning it. You’ll make monthly lease payments to continue using the equipment as if it were your own. Equipment financing works by giving owners the ability to get the equipment their business needs for a regular payment, including interest. After the set lease or loan term ends, the business owner can have the option to own the equipment or make a decision about the lease. These financing programs are great because almost any type of equipment a business needs can be financed to run a successful, growing, and competitive business.
Simply put, your business can’t thrive and move forward without the right equipment. From computers to software and heavy machinery like forklifts and large medical equipment, having the equipment you need is a must to running a successful business. Don’t let your operations be affected by the vast cost of equipment. With our equipment financing and leasing options, you can get quick funding right away. Our dedicated team of specialists will work with you to get fast approval on any equipment while setting up the payment option that best suits you. Contact 1st Commercial Credit today to obtain the equipment your business needs today!
Phoenix has one of the fastest-growing and dynamic economies in the country and is the nation's fifth most populated city. Many tech startups and Fortune 500 companies call Phoenix home and are currently taking full advantage of its competitive business climate and tax structure. This city also has a skilled and competitive workforce, scenic and cultural resources, and world-class innovation.
Some of the most successful employment sectors include electronics, aerospace, and semiconductor manufacturing. Tourism is also a crucial sector as well as back-office operations. In rural areas of Arizona, agriculture and mining remain a significant part of the economy. Another sector experiencing success is construction because Phoenix continues overgrowing.