Did you know that you don't have to apply for a bank loan in order to release instant cash for your business? With receivable financing, you can receive a cash sum based on the sum of your outstanding accounts for just a small fee. As long as your business sells to commercial accounts on credit terms you're likely to be eligible for factoring.
Would Your Arkansas Business Qualify for Factoring?
Because the main industry in Arkansas is agriculture, there are many, many businesses in the area that would qualify for accounts receivable financing. Generally agricultural businesses qualify, as do the logistics and distribution companies based in Little Rock that are involved with the high-volume transportation. The manufacturing companies of Fort Smith are also highly likely to qualify as they generally tend to sell to commercial accounts on credit terms.
As long as your sales are “final sales” and there can be no refunds or disputes afterwards, it's very likely that your business will qualify for receivable financing.
How Much Does Factoring Cost?
Fortunately accounts receivable financing is very affordable, it costs only a small percentage of your invoice transaction averaging .6% to 3.5% depending on the volume and industry. The exact figure depends on how old the remains outstanding; the older the receivable gets, the higher the percentage fee will be. This is a small price to pay when you consider the benefit accounts receivable financing can be to your cash-flow, and when you compare it to the interest involved with taking out a banking loan. A question is how much will it cost without the financing? lost sales, delinquent payroll or cant pay suppliers can equate far more expensive in cost or reputation of the business.
What Happens if you Don't Qualify with a Factoring Company?
If your Arkansas-based business doesn't quite manage to qualify for accounts receivable financing, don't worry, there are plenty of other options. Here at 1st Commercial Credit we also provide asset based lending, meaning you can borrow a sum based on the total value of your business assets, without the lengthy and complicated application process required by the banks. We also provide purchase order financing to allow you to keep production going even when cash is tight.
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.