Can Your Tennessee-Based Business Benefit by Factoring?
If your Tennessee-based business is suffering from good sales but a poor cash flow due to slow customer payments, it may well benefit from accounts receivable financing, otherwise known as factoring. This is where accounts yet to be paid are exchanged for cash in return for a small fee.
Here at 1st Commercial Credit, we make accounts receivable financing extremely easy to obtain with only minimal requirements. Because we know how important speed is, we do our best to give either same-day or next-day decisions in almost all cases. If your business sells to commercial accounts on credit terms, contact us today for a quote on accounts receivable financing.
Which Types of Business Qualify for Accounts Receivable Financing in Tennessee?
A state known for its musical history, Tennessee actually has a remarkably diverse economy that includes mining, the production of electrical power, uranium and automobiles. Even the cities of Memphis and Nashville are far more dynamic than their reputation suggests; these aren't just cities of tourism and music, they're also centers of the manufacturing industry.
We receive many applications from the area each year, most of which are businesses that sell to other businesses. 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 sale.” Most of our clients are fast growing companies whose past earnings and sales histories will not justify a traditional loan. Unlike banks, we can accommodate start-up operations with no financial base to rely upon because we understand that cash flow is most important to growing companies.
What About Businesses That Factoring Companies Do Not Qualify?
Unfortunately not all businesses are eligible for accounts receivable financing. Because of this, we also offer asset based lending and purchase order financing. Asset based lending allows companies to borrow on the strength of their total business assets, without having to go through a lengthy and difficult banking loan application process, while purchase order financing allows growing companies to pay their suppliers immediately, keeping business relationships healthy. For more information, 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.