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1st Commercial Credit has funded an invoice factoring facility to a nationwide distributor of animal feed that sells to small and large retail outlets including large farms. Quality matters, and our client offers one of the best quality animal feed products available in the country.
One thing for sure that even during the Covid-19 lock down, animals still have to be fed. The company has continued sales and increased the number of retail outlets to sell which created a cash flow shortage between credit terms sales and payables. This is a very common scenario when your sales increase on credit terms and your payables are due before money starts to come in.
Thankfully, we were able to negotiate with the existing bank and allow the line of credit to remain. This was very important for our client. The bank granted us a subordinated lien on specific accounts to give the client additional cash flow. We were able to place an invoice factoring service that gave the client access to an additional $1.5 Million to use.
1st Commercial Credit is an accounts receivable financing company that offers cash flow solutions and supply chain finance for any business selling on credit terms. We are very experienced in getting bank subordinations and have a mutual among all parties involved.
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