1st Commercial Credit Expands Produce & livestock Receivables Finance Program
We have seen an increase in demand for invoice factoring transactions that involve the Perishable Agricultural Commodities Act (PACA) and the Packers & Stockyard Act (P&S Act). 1st Commercial Credit will be modifying its parameters in order to accommodate small to mid-sized entities with minimal monthly revenues of $50,000 a month.
It is a challenging task to monitor agriculture and livestock related receivables, whereas some of our clients pay cash on delivery for their produce/livestock and others buy on credit terms. Any factoring company financing this type of receivable can be put at high risk if the client doesn’t pay its suppliers.
There are several type of clients that vary from growers, growers that buy from other growers to fulfil orders, livestock farmers, importers and distributors. Regardless of the transaction, the supply chain must be monitored and payments satisfied.
Minimum 1 year in business
Recurring business at least every other week
No spot factoring, must need continues factoring services