Oklahoma Businesses Benefit By Utilizing Factoring Companies
Every year, many businesses in the Oklahoma area find that they are able to improve their cash flow by using accounts receivable financing. This is the process whereby customer accounts receivable are pledges as collateral for funding for a small fee, otherwise known as factoring receivables.
Here at 1st Commercial Credit, we make receivable financing easy to obtain in our capacity as factor. Our application process only has minimal requirements and we are usually able to make a same-day decision. If your business sells to commercial accounts on credit terms, then it may well qualify for this type of financing.
Which Businesses Qualify for Accounts Receivable Financing in Oklahoma?
As a primarily oil servicing and agriculture state, we receive many applications each year from businesses in Oklahoma. Because the nature of the industry is seasonal, it means that cash flow is simply better at certain times of the year than others, and it usually just so happens to be worst when it's most needed. That's where accounts receivable financing comes in.
A business can qualify for accounts receivable finance if it generates sales on open credit terms to credit worthy businesses. Most of our clients are fast growing companies whose past earnings and sales histories will not justify a traditional loan. Our financing programs can accommodate start-up operations with no financial base to rely upon or companies with seasonal or uneven sales patterns.
What About Industries that Don't Qualify for Factoring Receivables
If your business doesn't qualify for accounts receivable financing, don't worry; we also offer asset based lending and purchase order financing. For more information on both of these services and for confirmation of whether or not your business will qualify for 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.