Accounts Receivable Financing for Businesses Based in Massachusetts
If your Massachusetts-based business sells to commercial accounts on open credit terms, there's a good chance that you may be eligible for accounts receivable financing, otherwise known as factoring. Factoring allows you to release the cash from your payment-pending customer accounts, for only a small one-off fee. At 1st Commercial Credit, we make receivable financing easy to obtain with minimal requirements and usually can have a same day decision. If you need instant cash but don't want to have to commit to a banking loan, accounts receivable financing may well be the best option for you.
Which Massachusetts Industries Qualify for Factoring Receivables?
While any business can qualify for accounts receivable finance as long as it generates sales on open credit terms to credit worthy customers, generally it is businesses who sell to other businesses who tend to take advantage of this type of financing. In Massachusetts, successful applications have been made by many businesses in the manufacturing industry, particularly those businesses based around Attleboro and Wilmington which produce machinery or machine parts.
Most of our clients tend to be those who have been rejected for a traditional loan, or who don't want to have to go through the lengthy banking loan application process. Many healthy and profitable businesses are often rejected for traditional loans, simply because they don't have the sales history to justify a loan.
Asset Based Lending and Purchase Order Financing provided by Factoring Companies
If your business fails to qualify for financing receivables, there are still several other options available to you before you have to turn to the traditional banking loan application process. Here at 1st Commercial Credit, we provide asset based lending and purchase order financing for those businesses which aren't in the position to factor their receivables. Contact us today for more information on these services.
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 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 money against the face value of your invoices. Financing receivables is a credit line that 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.