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Factoring Company in Delaware - 1st Commercial Credit

Most Popular Industries We Fund

Temporary Staffing Agencies

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Trucking Companies

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Trade Factoring

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Service Industry

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Oil Industry

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Delaware Businesses Benefit by Factoring Receivables

If you run a business in Delaware, and don't already know what factoring is, it's high time you did. Factoring receivables, otherwise known as accounts receivable financing, it where a business effectively trades its customer accounts still to be paid for instant cash. At 1st Commercial Credit, we make accounts receivable financing easy to obtain with minimal requirements and usually a same day decision. That's in stark contrast to the lengthy process that's needed in order to acquire a bank loan.

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Businesses Using a Factoring Company for Receivable Financing in Delaware

Any business can qualify for accounts receivable financing as long as it generates sales on open credit terms to credit worthy businesses. In Wilmington, we assist many businesses involved with chemical manufacturing (after all, Wilmington is the ‘chemical capital of the world!'). In towns like Middletown and Smyrna we assist many other manufacturing businesses, producing items such as apparel, paper and processed meats.

Generally, the type of business that is most suitable for accounts receivable financing is one that sells to other businesses, which is why manufacturing companies in particular are perfect for this type of financing.

Which Industries Qualify for Invoice Factoring?

Although it's generally businesses who sell to other businesses that tend to utilise this type of financing, any business can qualify as long as it generates sales on open credit terms, but those sales have to be “final sale.” This means there can't be any refunds or disputes after the purchase. Any sale that can be reversed won't be suitable for accounts receivable financing. As a heavily industrialised state, there are plenty of businesses in Delaware suitable for accounts receivable financing. If you're not sure if your business will qualify, contact 1st Commercial Credit today.

Factoring Companies offer Alternative Funding, Purchase Order Financing and Asset Based Financing?

Of course, not all businesses in the area are suitable for factoring. If you don't sell on open credit terms, or if your sales are not “final sale,” don't worry. This doesn't mean that your only other option is a banking loan. At 1st Commercial Credit, we also offer purchase order financing and asset based lending. Purchase order financing helps businesses which are having trouble paying their suppliers, meaning that production has been slowed or halted. Asset based lending allows you to borrow a sum based on the total value of your business including property, receivables and equipment. Just like accounts receivable financing, asset based lending allows you to bypass the lengthy application process required by banks.

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!

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  1. A two page application
  2. An accounts receivable aging report
  3. A customer list with credit limit request
  4. Copy of articles of Incorporation or DBA filing
  5. Purchase orders or rate confirmation agreements
  6. Invoices to factor

Most of our clients are either:

  • 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 factoring service is a flexible source of funds for businesses. We are a factoring company that simply utilize your accounts receivable as the collateral and advance funds against the face value of your invoices. The factoring 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.

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