Factoring Companies Offer Receivable Financing in North Dakota
If your business sells to customers on open credit terms, it's likely that it may qualify for accounts receivable financing. This is where your customer accounts are exchanged for instant cash in return for a small fee. At 1st Commercial Credit, we make accounts receivable financing easy to obtain with minimal requirements. Because we realise that time is often an important factor, we do our best to give either a same-day or a next-day decision in most cases.
Which Types of Business Qualify for Accounts Receivable Financing in North Dakota?
As a highly diversified region, there are various industries in the North Dakota region that qualify for accounts receivable financing. As the country's main oil-producing region, many oil service companies in the area apply to 1st Commercial Credit for factoring every year. As is the case with every oil boom region, there are also a large number of transportation and logistics companies which choose to factor their receivables rather than wait for eventual payment.
Any business can qualify for accounts receivable finance if it generates sales on open credit terms to credit worthy businesses and those sales are final. Most of our clients we tend to work with are fast growing companies whose past earnings and sales histories mean they aren't eligible for a traditional banking loan. Unlike banks, here at 1st Commercial Credit we can accommodate even start-up operations with no financial base to rely upon as well as companies with seasonal or uneven sales patterns.
Are There Other Options Factoring Companies offer?
Generally most businesses who are eligible for accounts receivable financing tend to take advantage of this option, but for those who find that they don't qualify we also offer asset based lending and purchase order financing. For more information on both of these services as well as accounts receivable financing, 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.