Mississippi Businesses Benefit from Accounts Receivable Financing
If you have a business in Mississippi that sells to commercial accounts on credit terms, you could benefit from accounts receivable financing. This is where your business receives the cash value of a customer account from a factoring company, who will then receive eventual payment from the customer. This service is done for only a small percentage fee. At 1st Commercial Credit, we make receivable financing easy to obtain with minimal requirements and usually a same day decision.
Which Mississippi Industries Do Factoring Companies Qualify for Accounts Receivable Financing?
Generally, businesses who sell to other businesses on credit terms tend to be the most suitable for accounts receivable financing, otherwise known as factoring. In Mississippi there is a strong agricultural industry, where raw materials are produced and then sold on to other businesses for production. The oil industry also has a strong presence in the state; again, because businesses involved with all production generally tend to sell to other businesses on credit terms, they would be perfectly suitable for accounts receivable financing.
Most of our clients tend to be businesses who have already applied for a traditional loan and been rejected, or who don't wish to go through the lengthy and rigorous banking loan application process. Because our financing programs can accommodate start-up operations with no financial base to rely upon, we tend to be a better option for brand new businesses with no credit history.
Industries That Don't Qualify for Factoring Receivables
Although there is a strong agricultural industry in Mississippi, which is also connected to the manufacturing and logistics industries (both of which are suitable for accounts receivable financing), there are also plenty of other industries that are not suitable such as the retail industry. 1st Commercial Credit offers asset based lending and purchase order financing in addition to factoring receivables. Asset based lending is very similar to a traditional banking loan, but comes without the rigorous application process, while purchase order financing allows businesses to pay their suppliers where otherwise production would have slowed or stopped altogether. For more information on these services, contact 1st Commercial Credit today.
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.