Washington Businesses Benefit by Factoring Receivables
Many businesses in the Washington state area benefit by factoring receivables, otherwise known as accounts receivable financing, every year. Rather than having to wait for customer payment, it allows them to release instant cash to the value of their receivables. Here at 1st Commercial Credit, we try to make the accounts receivable financing process as easy as possible. Our application process is simple, and we try to make same-day decisions in almost all cases. If your business sells to commercial accounts on credit terms, then it may well qualify for factoring receivables. Contact us today for more information.
Which Industries Qualify for Accounts Receivable Financing in Washington?
Washington State has one of the most diverse economies in the whole of the US, which means we work with a wide variety of businesses, from those involved with the growth of fruits, nuts and berries, to those who produce parts for the hydroelectric power industry. In Seattle, we receive a large number of applications each year from businesses in the transportation equipment industry. What all of these businesses have in common is that they sell on open credit terms to other credit-worthy businesses. If this sounds like your business, you have a good chance of being eligible.
Generally, most of our clients are fast growing companies who don't have enough history to make them good candidates for banking loans. Our financing programs can accommodate start-up operations without huge fees, because it's the credit-worthiness of your customers rather than your business that is important to us.
Factoring Companies offer more than Receivable Finance
In the case that your business doesn't qualify for accounts receivable financing, we also offer asset based lending and purchase order financing. Asset based lending will allow you to release cash depending on the total value of your business, while purchase order financing will allow you to pay your suppliers immediately rather than having to wait on customer payments, much like accounts receivable financing. Contact 1st Commercial Credit today for more information.
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.