Do you have a business that sells to commercial accounts on credit terms?
Whether you work in agriculture, mining, hydroelectricity or the car manufacturing industry, you may quality for accounts receivable financing, otherwise known as factoring.
Factoring is a process used by businesses all over the world to convert sales on credit terms to instant cash. It involves pledging your receivables as collateral which the business may draw cash against. Because accounts receivable financing is not a loan, there is no need to make payments or create debt that may cause problems in the future.
How to Qualify for Accounts Receivable Financing in Alabama?
Although all sorts of industries around the state can potentially qualify for factoring, from the automotive and medical manufacturers based in Birmingham, to the large aerospace engineers of Huntsville, to the agricultural trade in Tuscaloosa, businesses will only be eligible if they generate sales on open credit terms to credit worthy businesses.
Most of our clients are fast growing companies whose past earnings and sales histories will not justify a traditional loan. Our financing programs can accommodate start-up operations with no financial base to rely upon or companies with seasonal or uneven sales patterns.
Reasons a Business Might Fail to Qualify for Factoring:
Accounts receivable factoring is available to all industries that provide services, or deliver products to commercial accounts. This means that sale must be "final sale" or have no disputes on invoices that will be considered funding. The service or product must be completely delivered in order for an invoice to be eligible for funding, because of course any sale that can be reversed can't be used as collateral.
Factoring Companies offer other options:
At 1st Commercial Credit, we also provide purchase order financing and asset based lending, so if you're looking for immediate cash to pay your suppliers or for more instant cash than your receivables alone, then you've come to the right place.
Accounts Receivable Financing is our Business!
Receivable financing rates at 0.69% - 1.59%
No financials - No monthly minimums - No invoice minimums
No facility fees - No audits - No up-front fees - No hidden fees
Set up account in 3 to 5 working days - 24 hr funding thereafter
Receivable credit lines starting at 5,000 & up to 10 million
Customer referrals upon your request
We Make Same Day Decisions Start Today
We Make accounts receivable financing a Simple Process!
experiencing cash flow shortages due to a slow turnover in accounts receivable
fast growing companies whose past earnings and sales histories will not justify traditional bank loan financing
start-up businesses with no financing base
principals with good or bad credit and cannot obtain traditional financing
have lost their line of credit due to covenant violations
need export receivable financing, credit protection or purchase order financing
Is your business growing faster than your operating capital?
At 1st Commercial Credit, our accounts receivable financing service is a flexible source of funds for businesses. We simply utilize your accounts receivable as the collateral and advance funds against the face value of your invoices. The receivable credit line grows proportionately with your sales cycle and we can fund as little as $5,000 a month and up to $10 million for larger companies.
Industries 1st Commercial Credit Factors in the USA:
1st Commercial Credit, a nationwide factoring company headquartered in Austin, Texas. Provides accounts receivable financing in the US, Canada, and the UK; offers export trade finance to clients in every major world market and can convert receivable finance transactions in 17 currencies.