How Your Maine Business Could Benefit by Factoring Receivables?
If you've been having trouble paying your suppliers due to your own customers' late payment, accounts receivable financing can be a great way of releasing the cash due immediately. At 1st Commercial Credit we provide factoring of accounts receivable services whereby we advance cash for these pending customer accounts for only a small discount fee. If your Maine-based business sells to commercial accounts on credit terms, then your business may well qualify for this type of financing.
Which Businesses in Maine Would Qualify for Accounts Receivable Financing?
Any business can qualify for accounts receivable financing, just as long as it generates sales on open credit terms to credit worthy customers, and those sales are “final sale.” In Maine, we provide factoring services to many businesses involved in the shipbuilding industries, as well as the lobster fisheries. As a general guide, if your business sells to other businesses on credit terms, then there's a good chance you will qualify for receivable financing. Most of our clients are fast growing companies whose past earnings and sales histories will not justify traditional lending. Our financing programs can accommodate start-up operations with no financial base to rely upon or companies with seasonal or uneven sales patterns.
What Happens if Your Business Fails to Qualify in Financing Receivables?
Don't panic if you fail to qualify for accounts receivable finance; this still doesn't mean your only option is a banking loan. Here at 1st Commercial Credit, we also provide the options of asset based lending and purchase order finance to those businesses who fail to qualify for factoring. Call us today to find out how we could improve your cash flow straight away with no lengthy application process and no hassle.
Financing Receivables 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 factoring service is a flexible source of funds for businesses. We are a factoring company that simply utilizes 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.
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.