To understand why invoice factoring is a better option for your Denver business, here is a short and simple explanation to understand what invoice factoring companies can offer and the financing process.
When companies in Denver are experiencing rapid growth within their industry, cash flow issues can ensue. To have a successful business, you will have to provide the best criteria for your clients. Offering appealing credit terms to clients is what could turn out to be the cause of your cash flow shortages. Imagine offering credit terms of 30,60,90+ days to customers and then having to wait for these payments while still running operations to keep your business up and moving.
1st Commercial Credit is a Denver invoice factoring company (also known as accounts receivable financing company) that provides a financial solution that allows your Denver business to sell its receivables or unpaid invoices to a factoring company. This financial solution will allow for an injection of cash into your cash flow at a discount, allowing you to continue with your business’s daily operations such as payroll and payments to vital suppliers.
An accounts receivable factoring service in Colorado like the one 1st Commercial Credit offers converts invoices sold on credit terms for immediate cash. It is a simple, fast, and easy way to access cash flow for your Denver business. 1st Commercial Credit is an invoice factoring company specializing in evaluating accounts receivables in Denver and can make a prompt approval decision.
1st Commercial Credit funds some of the most popular industries in Denver. We offer trucking and freight invoice factoring, financing for manufacturing companies in Denver, construction factoring, oil and gas, telecommunications, healthcare, accounts receivable factoring for staffing agencies.
Two types of medical receivables are considered by 1st Commercial credit for financing Denver companies: healthcare receivables payable by insurance companies and government agencies (i.e., medicare) and commercial accounts receivables owed by buyers like hospitals for services and items.
Our Healthcare Provider Factoring program funds insurance, Medicare, and Medicaid receivables. The Healthcare Provider Factoring process involves giving the healthcare provider a receivables-based credit line based on the net realized value for the billings to third-party payors (i.e., commercial insurance companies, HMOs, Blue Cross-Blue Shield, Medicare, and Medicaid).
We offer a healthcare invoice factoring program, a funding program that purchases your billings at a discount. This financial program is for medical providers in Denver with accounts receivable with a net realized value of $500,000 or less. In contrast, clients that exceed $500,000 in accounts receivable and meet our criteria for financing can benefit more from our asset-based receivable financing program that is priced at a prime plus schedule.
Some medical industries in the Denver area fall under the ordinary commercial accounts receivable financing program because they do not invoice third-party payors. 1st Commercial Credit can offer many flexible invoice factoring programs for this type of medical business.
We constantly receive many inquiries from medical and nurse staffing agencies looking for a receivable-based credit line. Medical staffing factoring services are considered reliable for a consistent cash flow to help cover business operation expenses such as payroll. Many companies in the medical industries and other suppliers selling to large companies need our factoring services to close the cash-flow gap.
1st Commercial Credit is a financing company with extensive experience providing financial services and accounts receivable financing to service-based industries. Invoice factoring can help service providers solve their cash flow issues by selling their receivables.
Most businesses providing a service to commercial accounts can rarely offer tangible assets to pledge against a loan. This situation makes it extremely challenging for these businesses to qualify for a business bank loan.
Banks usually have a safety net and prefer to lend against collateral that they can quickly liquidate. For this exact reason, many service industries are turned down for a loan or are approved with limited funds for working capital. Either case will put a stop to your company's growth and ability to offer credit terms to clients.
We know that every business in Denver is different and deserves a customized financing program and we want you to get the lowest possible rate. Our factoring rates start as low as 0.69% and are usually no higher than 1.59%. You can start selling your receivables today and obtain cash for your business.
The city of Denver has a metro area population of 2,827,000 is the capital and most populous city of Colorado. It is the 19th most populous city, the fifth most populous state capital, and the most populated city located in the mountain states. Denver is located in the central part of the US and northern region of state Colorado, east of the Rocky Mountains front range.
The Mile High City is famous for its beautiful panoramic mountain views, outdoorsy life, and blue skies. Denver is the place where outdoor adventure and urban life meet.
Denver’s main attraction is undoubtedly easy access to the Rocky Mountains. This outdoor city also offers a broad range of other activities and attractions, including arts and culture, craft breweries, top dining, and music and concerts. Other outdoor activities to do in Denver include cycling, hiking, golf, tennis, and rock climbing, to mention a few.
Getting to Denver is very easy because of the efficiency of Denver International Airport, one of the largest connecting airports in the world. Once there, the Denver Union Train Station will take you to the heart of the city, where you will find various restaurants, bars, shops and can walk around to explore downtown. Denver also offers many public transportation options to get around Denver either by bus or light rail.
The city of Denver has a prominent and diverse economy. Aerospace, broadcast and telecommunications, wellness, healthcare, financial services, bioscience, energy, and IT- software are among the leading industry sectors.
The fastest-growing in Denver is the healthcare industry. High tech and energy have also become a prominent and essential part of the city's growing industries, and these are two sectors Denver is primarily known for. Many large companies, especially tech firms, have chosen to move their business to Denver partly because it has the country's largest internet and telecommunication services industry clusters.
Denver's economy depends significantly on the energy industry, and it is known as one of the world's premier energy cities. Colorado's energy and natural resources industry provides work for more than 150,000 Coloradans and contributes $11.4 billion to the state's economy annually.
Another famous sector prospering in Denver is the cleantech industry. Currently, this sector is experiencing a period of sustained, rapid growth. The metro Denver and Northern Colorado region now rank #4 for the concentration of cleantech employment.
1st Commercial Credit is a factoring company in Colorado providing invoice factoring services to the following cities: