We recently funded a nationwide security alarm and video camera installer based out of Indiana. His contracts are with very large security companies that have locations nationwide. This client was originally trying to get faster cash flow using the customer’s Quick Pay Offer through a major bank’s supply chain finance digital platform.
However, it was very slow, unpredictable and payments would come in 10 to 20 days late. As many supply chain finance programs, banks are too slow in processing the trade payables to suppliers in a timely manner.
Our client invoices net 60 days but he needed the money within a week to pay sub-contractors and to cover other labor cost and internal staff expenses. Cash flow was becoming a stressful problem, and his subs were becoming frustrated with having to wait to be paid as well.
1st Commercial Credit was able to help accelerate the cash flow faster by providing our accounts receivable financing program. We offer predictable funding within 24 hours of submitting the invoices, and used some of the outstanding receivables to pay off a cash advance loan, late 941 payroll obligations and catch up with all the sub-contractor payables.
1st Commercial Credit is an invoice factoring company that provides funding for Security Guard companies and many other industries related to security.
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