1st Commercial Credit

We Offer Supply Chain Finance Solutions

Over 18 Years in Business

Recent Transactions

invoice factoring for a invoice factoring for industrial pipe coating repair company

$350,000

Coatings for Pipeline

invoice factoring for a po funding valve importer from china for inventory, freight and duty fees

$210,000

Valve Importer PO funding

$2 Million | Accounts Receivable Funding for Travel Nurse Staffing Agency

$2 Million | Accounts Receivable Funding for Travel Nurse Staffing Agency

Learn more about how a travel nurse staffing agency was able to capitalize using its unpaid invoices as collateral. The accounts receivable funding line of credit was used for funding payroll and increase cash flow for growth demand due to the current coronavirus pandemic situation. The client was awarded three contracts all at the same time and needed funding quickly to fulfill its obligations.

1st Commercial Credit provides an accounts receivable funding line of credit for a travel nurse staffing agency

The temporary medical staffing agency was previously with a franchise type of arrangement 3 years ago and broke away due to disagreements and non-performing benefits that was promised by the franchise.

Since then, the company established a new entity and has been growing steadily. The owner had previously contacted 1st Commercial Credit last year but postponed his decision because sales were flat. However, with recent developments he decided to move forward with establishing a receivable finance relationship because he needed additional working capital to make payroll for almost 60 days before getting paid.

The client was awarded 3 contracts all at the same time and with this latest demand of nurses servicing the pandemic coronavirus hot spots of California, New Jersey and New York, it was obvious that it put the client in a position where he would not be able to make payroll until payments came in.

1st Commercial Credit established an Accounts Receivable Funding Agreement with the medical staffing agency that provided a $2,000,000 receivables base line of credit at a 90% advance of the face value of the invoices and a separate agreement involving a $200,000 revolving line that is available for payroll funding as needed in the future.

The initial funds were used for mobilizing nurses and free up the 45 to 60 day pay cycle from customers and some prime contractors that are taking the lead on filing in the need for nurses from major hospitals and health centers.

Receivable Financing Rates at 0.69% to 1.59%

18 Years In business & Over 3,200 Clients Funded

  • We Fund Staffing Everyday!
  • Fast Approval Process
  • No Up Front Fees to Set up
  • No Financials Required
  • Low Credit Score Accepted
  • 3 to 5 Day Initial Setup
  • Free Invoicing Software
  • Free Uploading Funding App

The staffing agency now uses SOA Creator by MybizPad that helps consolidate all the timesheets from all the nurses servicing almost every state. The software merges the timesheets with the invoices and prepares a funding schedule. MyBizPad also provides temp staffing invoicing software for those staffing clients that prefer to use it.

MyBizPad is a proprietary software that was made by 1st Commercial Credit to help staffing agencies and other businesses submit the invoices to clients and the factoring company for funding.

In addition to this latest transaction, 1st Commercial Credit is a medical staffing factoring company that has funded many small staffing agencies and locums during the 2020 pandemic era.

Invoice factoring for nurse staffing agencies is a simple process for 1st Commercial Credit.

Learn more about invoice factoring basics

Learn more about other funding transactions

Why Do Staffing Agencies Choose Us?

Accounts Receivable Financing is our Business. 18+ years in business

  • Quick $350,000 Line of Credit
  • Financing Rates at 0.69% - 1.59%
  • $10,000 & up to $10 million Facilities
  • No Financials Required
  • Set up in 3 to 5 working days
  • No up-front fees - No hidden fees
  • No facility fees - No Audit Fees
  • We Make Same Day Decisions
  • No Monthly Minimums
  • No Invoice Minimum Fees
  • Free Staffing Software Invoicing/Funding