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.
Invoice factoring is the ideal financial solution and alternative for Arkansas businesses with poor credit. One of the biggest deterrents for banks is bad credit when a business is applying for a traditional business loan. At 1st Commercial Credit, we understand that things happen, and having bad credit is not always the business owner’s fault and does not always reflect the capacity of the business operations.
Instead of focusing on things like credit history, collateral, and financial statements, we focus on the following:
Working with invoice factoring companies can even help improve your bad credit. Selling your receivables to a factoring company in Arkansas can bring many advantages to your business, and one of them is assisting to rebuild bad credit by simply using the cash flow provided to you in exchange for your company invoices.
Paying suppliers on time and fulfilling your business’ financial and operational responsibilities will tremendously improve your financial position. Your company can also use the cash to pay existing debt.
Other advantages of invoice factoring include:
1st Commercial Credit provides flexible and lenient application and approval processes for factoring. We do not focus on a business owner’s credit status, the length of time in business, or demand financial records. The two main requirements to qualify for our financing programs are invoices for orders/services and creditworthy customers.
We know how valuable your time is when running a business, and this is why we will not make business owners go through a complicated and time-consuming process. 1st Commercial Credit has plenty of experience financing companies in all industries, and we have made the funding experience a fast and easy process. Businesses can enjoy having access to a reliable source of funding that will also give them the confidence to expand and succeed with their business.
1st Commercial Credit provides invoice factoring for many industries in Arkansas. We can set up your account in 3 to 5 working days, and no financials are required. We offer funding for small, medium, 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 Arkansas company by delivering the funds today. 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. When banks turn your business down for a loan because the long and strict list of requirements is not fulfilled, you will struggle to find a reliable source of funding, but 1st Commercial Credit is here to help.
Companies in Arkansas facing challenges with their cash flow and who have experienced other financial problems can still find a financial solution if they come to 1st Commercial Credit. We are an invoice factoring company in Arkansas that provides funding for businesses with cash flow shortages. We have extensive experience and knowledge funding many companies in different industries.
Additionally, our funding process is fast and straightforward, and we provide competitive rates. We do not run credit checks for approval, so invoice factoring for bad credit holders is still possible. We establish a company's credit eligibility based on their client's credit quality and not the company's, meaning you can qualify even with a bad or low credit score.
Our financing services allow companies in Arkansas to offer better and more competitive credit terms to their customers without running into cash flow problems. 1st Commercial Credit is recognized as one of the best invoice factoring companies out there because we provide flexible approvals, fast funding, affordable rates, and additional financial solutions that help grow businesses. Lending companies convert invoices sold on credit terms to fast working capital. We are an experienced factoring company specializing in evaluating accounts receivable, and we make prompt approval decisions.
A factoring company (or accounts receivable factoring) converts invoices sold on credit terms for immediate working capital at a discount. It has become a simple, fast and easy way to access business cash flow. In comparison with a traditional bank loan, a company that factors receivables has a quicker approval process.
1st Commercial Credit is a factoring company that specializes in evaluating accounts receivable and can make a prompt approval decision. The documentation requirements are not as lengthy, and the main requirement is that an applicant has invoices for work or orders that have already been satisfied. It also helps to have creditworthy customers. As long as a business has been in operation, meets revenue requirements, and is free of liens or legal issues, approval is likelier.
The agriculture sector in The Nature State continues to experience growth. The growth rate of the food and agribusiness industry from 2015 to 2019 was 13.1 percent in Arkansas. The state is home to 23 of the top 25 food and agribusiness companies and is considered the 2nd state with the most significant number of food processing workers in the South of the country.
Alongside Arkansas’ agriculture industry, food manufacturing goes beyond the sourcing of agricultural products to include processing and packaging. About 50,000 people are employed in the food manufacturing industry in Arkansas, which accounts for nearly a third of all manufacturing jobs.
The manufacturing sector is also a vital component of the Arkansas economy which employs 13% of the labor force in the state. Some of the manufacturing companies in the state are among the leading in the country.
1st Commercial Credit understands this industry and offers receivable finance for manufactures experiencing working capital shortages.
Another top industry in the state is the production of paper and timber products. Arkansas' heavily forested landscape is responsible for producing the fourth-largest amount of timber in the nation. Aerospace is another massive industry in Arkansas, ranking first in export and adding $1.8 billion and 10,000 jobs to the economy. This sector includes aircraft and aircraft-related parts and services, rocket and defense systems.
1st Commercial Credit also funds the trucking and logistics industry which is indispensable in the Arkansas economy. The state is home to many of the nation’s prominent shipping companies. Arkansas has more than 80 distribution centers and 22 leading trucking companies employing more than 85,000 Arkansans. The state also thieves in corporate and shared services, metals, software development, and data management services.
1st Commercial Credit has almost two decades of experience providing equipment financing for businesses across the U.S. Our equipment finance agreements deliver comprehensive solutions for all types of equipment financing and leasing needs. We structure these solutions precisely to fit your company’s requirements, equipment type, and objectives. If you are searching for the right financing partner, don’t hesitate and let us help you meet all of your equipment-related needs so your business can continue growing.
We also provide vendor finance with customized finance programs for equipment manufacturers, distributors, and dealers across Arkansas. We know business owners don’t have the time for traditional financial institutions to review your case and make you go through a million different requirements. Financing can be challenging to obtain for small business owners.
Start your application with 1st Commercial Credit today, and our equipment financing experts will take care of the rest. In many cases, we can offer quick approvals and funding on a request for an equipment loan, lease, or financing agreement. With over 18 years of providing equipment financing and leasing solutions, we have served clients in many industries, including:
1st Commercial Credit provides in-depth overviews of the equipment financing options we offer. Our specialists will explain how it works, how it differs from other types of financing, the benefits, and how to qualify. The application process is fast and straightforward, and we accept an array of credit scores. Our extensive experience allows us to provide equipment financing for just about every industry to help you remain competitive in today’s world and invest in different equipment and technological advances. We can evaluate your equipment needs and provide financing options so you can continue growing and developing a thriving business.