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 industrial temporary staffing agency in texas

$350,000

Staffing Light Industrial

invoice factoring for a invoice factoring for start up temp staffing company with 1 client

$100,000

Start Up Staffing Agency

Keep Your Refrigerated Trucks on the Road by Using a Factoring Company

Grocery stores and restaurants depend on your refrigerated trucking company to deliver the goods they need to sell to customers. In order to do that, you need enough working capital to keep your trucks fueled and properly maintained. This can be difficult to do when some or all of your company's funds are in the form of accounts receivable. The resulting cash crunch can mean that more trucks stay parked while your company loses money and customers. Obviously, this is an undesirable situation that you want to avoid. A factoring loan from 1st Commercial Credit can help you do just that.

What is Accounts Receivable Financing?

Factoring and accounts receivable financing both refer to the process of a trucking company selling its unpaid invoices in exchange for immediate cash. 1st Commercial Credit provides this important service to the trucking industry. To qualify for accounts receivable financing, you just need to provide us with the outstanding invoices you wish to draw against. After verifying your customer's information and your business credentials, we forward the funds to you via check or wire transfer. It is a simple solution to the often overwhelming problem of cash flow shortages.

Bad Credit or Lack of Credit is Not an Issue

The only thing more frustrating that dealing with a constant lack of working capital is not being able to obtain the financing to do anything about it. Banks and other lending institutions generally won't consider an applicant that has been in business for less than three years or with past credit issues. Even if you do meet a bank's burdensome criteria, you may reach your maximum line of credit before you are done expanding your business.

With 1st Commercial Credit, you don't have to be concerned about any of this. Almost all trucking business owners can qualify for financing as long as they provide invoices from credit worthy customers. Your line of credit is only limited by the number of accounts receivable invoices that are owed to your company. The unpaid receivables are the only collateral that we require.

Benefits for Trucking Companies

Freight Factoring Services with us takes up to five business days to process. After that, you can look forward to receiving your funds in less than 24 hours. We appreciate your business and offer you many incentives to choose 1st Commercial Credit. Some of these include:

  • Fuel advances
  • No need to produce original Bill of Lading for funding
  • Free online credit checks on your customers
  • We upload images for funding so you don't have to use Fed Ex
  • For freight brokers, we also offer quick pay and ACH to carriers

These benefits are in addition to having an ongoing source of working capital. If you're ready for flexible freight factoring at very low rates, complete our online form or contact an account representative directly.