When Delaware companies are experiencing rapid growth within their industry, they will often find themselves needing additional cash for expansion, marketing, payroll, and other daily business expenses. For some business owners, cash flow issues can ensue in this situation, and invoice factoring is an ideal financial solution. Offering appealing credit terms to clients is what could turn out to be the cause of your cash flow shortages. Credit terms of 30,60,90+ days can cause a long wait for payments to come in while the business still needs running operations to keep it up and moving.
Accounts receivable financing is a financial solution that allows you to sell your receivables or unpaid invoices to a factoring company. This financial solution will allow for an injection of fast cash into your cash flow at a discount, allowing you to continue your business’s daily operations, such as making payments on time to vital suppliers.
1st Commercial Credit offers factoring services that convert invoices sold on credit terms to immediate cash. We make it a simple, fast, and easy way to access cash flow for your Delaware business. 1st Commercial Credit is a specialized lending company evaluating accounts receivables in Delaware and can make a prompt approval decision. Factoring companies can help many businesses in different sectors in Delaware.
The factoring process is simple, and after filling out a 2-page online application form, the decision comes in 3-5 days. Once approved, Delaware businesses will obtain funding within 24 hours. Nowadays, business owners are more interested in finding lending companies that can work with them and provide them as-needed funding while staying away from adding extra debt to their balance sheets. To find out which financing solution is best for your company, 1st Commercial Credit offers to evaluate your specific situation and provide you with some options for funding.
Delaware is home to many large business franchises, but its economy mainly benefits from all the small businesses established there. Suppose your Delaware company is experiencing problems fulfilling payroll, paying suppliers, or has to halt plans for expansion because of cash flow shortages. In that case, invoice factoring is the financial solution to save your business.
1st Commercial Credit has many years in the financing business and has worked with many industries in Delaware. We work with the leading industries in Delaware, such as agriculture, manufacturing, fisheries, and finance, to mention a few.
Businesses in Delaware no longer have to rely on banks for funding. Small businesses in a challenging cash flow situation can now turn to invoice factoring for a fast and simple financing alternative to improve their cash flow situation and secure money to grow. Even if your business doesn't qualify for other forms of traditional financing, like bank loans, invoice factoring is still an option because we accept bad credit and focus more on the credit of your customers.
Agriculture invoice factoring gives businesses more financial flexibility and doesn't add debt to the business. If you are in a situation where clients take a few weeks or months to complete their payment terms, cash flow might not be great, and you can definitely benefit from our factoring services. This type of financing involves selling your business invoices in exchange for a cash advance. You will basically get paid before your clients actually pay you.
Businesses of all sizes and in various industries can benefit from our factoring services. All you need to do is continue to run the business, as usual, delivering products or services normally to other businesses, and use those invoices to get funding. 1st Commercial Credit is a specialized lending company in Delaware offering immediate funding with flexible programs and competitive financing rates. We don't have any minimums or maximum amounts to factor in or long-term contracts.
Every business needs a steady source of working capital to be successful. Unfortunately, slow-paying clients can cause even the best financial plans to fail. Because of the many financial challenges that small businesses will encounter, they turn to factoring companies to help them maintain consistent working capital.
1st Commercial Credit gives small business owners the option to use the funds for the following expenses:
A factoring company (or accounts receivable factoring) converts invoices sold on credit terms for immediate working capital at a discount. It has become a simple, fast and easy way to access business cash flow. In comparison with a traditional bank loan, a company that factors receivables has a quicker approval process.
1st Commercial Credit is a factoring receivables company that specializes in evaluating accounts receivable and can make a prompt approval decision. The documentation requirements are not as lengthy, and the main requirement is that an applicant has invoices for work or orders that have already been satisfied. It also helps to have creditworthy customers. As long as a business has been in operation, meets revenue requirements, and is free of liens or legal issues, approval is likelier.
Use Your Accounts Receivables For Financing
Manufacturing facilities needing to offer credit terms to customers utilize our flexible and accessible funding programs. Your production no longer has to be interrupted or halted; businesses can easily tap into their receivables asset for immediate cash flow. You will be able to offer:
Accounts receivable loans for manufacturers utilize the company's unpaid invoices. Money is tied to these invoices, and businesses that can't access them need to cover daily business operations. Your accounts receivables can be used to obtain a line of credit extended by a factoring company, and it can increase as a company's sales (invoices) increase. Selling to customers on credit terms means that companies will deliver the goods and services right away, create an invoice, then get paid a few weeks or months later. The problem arises when some of these customers are paying late or are not paying at all, creating cash flow shortages. 1st Commercial Credit offers an optimal financial solution to help businesses in this predicament.
Manufacturing Financing with 1st Commercial Credit
Cash flow issues can prevent businesses from making crucial upgrades such as purchasing equipment or hiring experienced professionals. Factoring manufacturing companies can help resolve these issues. For a manufacturing company in Delaware, finishing projects on time and meeting the increasing demand is crucial. Unfortunately, cash flow problems can sometimes stand in the way and make it challenging to take care of some fundamental financial responsibilities. Specialized lending companies offer manufacturing financing to help businesses deal with this type of situation.
We also provide other financial services and programs for manufacturing companies, including manufacturing factoring and manufacturing equipment financing, which can be used for short notice funding to manage unexpected cash flow shortages and purchase new equipment. This alternative form of financing can also be used to fund growth and expansion or pay and retain qualified personnel. This financing method relies on the credit history of the customers, not the business. Factoring can be either based on a short-term basis or under a long-term agreement. A manufacturing business loan will provide the flexibility to choose the best arrangement for your company.
The Manufacturing Factoring Process
Smaller manufacturing firms with eligible invoices sold to creditworthy customers can apply for loans with factoring companies for small businesses using these receivables (invoices) as collateral. Lenders will evaluate the accounts receivable to determine the arrangement. If the loan is approved, the lending company will give a high percentage of the value of these outstanding invoices upfront. The lender will collect the fees and return any remaining funds to the borrower when the invoice amounts are paid.
1st Commercial Credit specializes in asset-based lending solutions for the manufacturing sector in Delaware. Our invoice loans and purchase order financing for small business are ideal solutions for many small manufacturers struggling to obtain the capital they need. By taking advantage of the alternative lending options we offer, manufacturers in Delaware can begin planning for future growth and not worry about cash flow.
Save time and money: Factoring services often will come with credit and background verification services free of additional charge to ensure you're selling to creditworthy clients.
24/7 online platform access and reporting: 1st Commercial Credit gives business owners 24/7 access to an online reporting system. Owners can freely access their account information and integrate their factoring account with other business records.
Low credit is approved: Manufacturing companies of all sizes and credit status may qualify for accounts receivable factoring. Factoring companies do not consider a company's credit history when making a funding decision, making it more accessible for many manufacturing companies struggling to obtain funding from other financial institutions.