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Factoring Company in Rhode Island - 1st Commercial Credit

Most Popular Industries We Fund

Temporary Staffing Agencies

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Trucking Companies

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Trade Factoring

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Service Industry

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Oil Industry

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Factoring Receivables in Rhode Island

For all those businesses in Rhode Island who suffer from poor cash flow but healthy sales, we offer accounts receivable financing. This is a great option when too many customer accounts are yet to be paid, and suppliers need to be paid immediately. Here at 1st Commercial Credit, we make accounts receivable financing, otherwise known as factoring, easy to obtain for any business who qualifies. Our application process only has minimal requirements, and we usually make same-day decisions in most cases. If your business sells to commercial accounts on credit terms, then contact us today for a quote.

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Which Businesses Qualify for Accounts Receivable Financing in Rhode Island?

One of many important industries in Rhode Island is the silverware industry. This involves the manufacturing companies who design and produce the products, as well as the logistics companies which deliver it throughout the state, along with the retail businesses who actually sell the items. As far as accounts receivable financing goes, we tend to work with businesses who sell to other businesses rather than those who sell to the public.

The reason for this is quite simple; we only work with those who sell on open credit terms to credit worthy customers, and most often this just so happens to be other businesses. For confirmation of whether or not your business will qualify, contact 1st Commercial Credit today.

What Happens if a Factoring Company does not Qualify Your Business?

If your business fails to qualify for accounts receivable financing, we offer two other options that may be useful to you; asset based lending and purchase order financing. Asset based lending is very similar to a traditional banking loan and allows you to borrow a certain amount of money depending on the total value of your business assets, while purchase order financing allows you to pay your suppliers when cash flow is poor.

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!

Call now for details at 1 800 876 6071   USA & Canada 

  1. A two page application
  2. An accounts receivable aging report
  3. A customer list with credit limit request
  4. Copy of articles of Incorporation or DBA filing
  5. Purchase orders or rate confirmation agreements
  6. Invoices to factor

Most of our clients are either:

  • 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.

Call now for details at 1 800 876 6071  Start Today

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