1st Commercial Credit

Learn About Funding and Supply Chain Finance Solutions, Business Tips, and Industry Related Articles.

Over 18 Years in Business

Recent Transactions

invoice factoring for a small fleet trucking


Small Fleet Trucking Company

invoice factoring for a staffing agency - oil filed services


Staffing Oil Field Service

How to Get the Best Out of Your Fuel Card Program

If you have a fuel card program with another financing company, you may be losing money to unnecessary bank wire fees. 1st Commercial Credit offers a fuel card program that provides direct funding to your fuel account. In the past, we had to forward the funds to our customer's bank account instead of directly to the fuel card. The customer then had to initiate a second wire transfer to get the funds in the right place. We started the direct fuel card funding program because we care about saving our customers money. It is just one of the many benefits we offer to trucking companies owners who work with 1st Commercial Credit for their financing needs.

Is Your Company Growing Faster Than Your Working Capital?

New trucking companies that experience fast growth are often frustrated by not having enough working capital to expand even more. Banks and other types of lenders tend to be very conservative with start-up companies, which means that the line of credit offered is simply not enough. Trucking companies in this situation don't have the income yet to justify a larger line of credit. At 1st Commercial Credit, we do things a bit differently. We don't care about financial statements, sales forecasts or even how much your trucking company brings in every month. We fund your business using your unpaid accounts receivable invoices as collateral.

Other Situations That May Require Flexible Financing

There are several common scenarios that our trucking company customers experience in addition to fast growth with not enough working capital. Some of these include:

  • Business has poor credit, a new credit history or not enough tangible assets to pledge as collateral
  • Banks and other lenders will not accept seasonal variations in trucking company's income
  • Business owner is uncomfortable borrowing money without the accounts receivable to ensure prompt repayment

No matter what your situation or the size of your trucking company, the factoring receivables program at 1st Commercial Credit can help you meet your business goals. With immediate access to cash flow, there is no need to borrow money at a high interest rate to pay your drivers, maintain your fleet and attract new customers. Our freight factoring company is happy to offer an ongoing accounts receivable credit. You just needs invoices to factor from customers with a good payment history.

Fast Turnaround Time and High Lines of Credit

In the unlikely event that you meet the rigid criteria of banks and other lenders, you don't have weeks or months to wait for your funding. If you did, you would wait to receive payment for your outstanding invoices. 1st Commercial Credit processes all applications within one day and forwards the funds to you by the next day. New customers have an additional three to five day wait for initial account set-up. You receive 80 to 90 percent of the invoice value at this time and the remainder when your customer pays in full. We deduct a small processing fee from your final disbursement.