If your South Dakota business sells to commercial accounts on open credit terms, there's a good chance that it may qualify for accounts receivable financing. This allows you to release cash on sales instantly, while still allowing your customers to pay on credit terms. It's far easier than applying for a traditional banking loan, and the requirements are less stringent.
Here at 1st Commercial Credit, we make accounts receivable financing, otherwise known as factoring receivables, easy to obtain with a simple application process and usually same day decisions. If you're interested in improving your cash flow today, contact us for a quote.
Which Businesses Qualify for Accounts Receivable Financing in South Dakota?
The main industries in South Dakota are Oil field Services, cattle farming and gold mining, which involves many businesses that are perfect for accounts receivable financing. Generally any business that sells on open credit terms to credit worthy customers is likely to be eligible for accounts receivable financing, although we consider each case on an individual basis. What is certain is that we don't require the sales history or credit-worthiness that a bank would consider essential, which means we often work with start-up companies who would otherwise find it very difficult to obtain instant cash.
Factoring Companies Offer Other Options
Because we know that not all businesses in the area will qualify for accounts receivable financing, we also offer asset based lending and purchase order financing. Asset based lending allows businesses to borrow money based on the strength of the total business assets including premises, equipment, and receivables, while purchase order financing provides businesses with the cash to pay their suppliers immediately. For more information on these services contact 1st Commercial Credit today; we'll be happy to explain them to you.
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.