West Virginia Businesses Can Benefit by Factoring Receivables
If your business is suffering from poor cash flow despite healthy sales on credit terms, then accounts receivable financing also known as factoring, may well be a good option for you. This is a process whereby customer accounts are pledged as collateral for instant cash flow from a factoring company. This allows you to pay suppliers or make payroll immediately without having to commit to an expensive, long-term banking loan. At 1st Commercial Credit, we make accounts receivable financing easy to obtain with minimal requirements and usually can have a same day decision. If your West Virginia-based business sells to commercial accounts on credit terms, then contact us today for a quote.
Which Businesses Qualify for Accounts Receivable Financing in West Virginia?
We receive a lot of applications from businesses based in West Virginia every year. Seasonal businesses such as suppliers to the agriculture industry are great candidates, or any distributor or manufacturer that sells on credit terms. Selling on credit terms can cause slow payment cash flow at certain times of the year; most often when suppliers need to be paid. Any business can qualify for accounts receivable finance if it generates sales on open credit terms to credit worthy businesses, but those sales have to be final. If you're still not sure whether your business would qualify, contact 1st Commercial Credit today for more information.
Factoring Companies offer more than just Receivable Financing: Purchase Order Financing and Asset Based Lending
Because we know that not all businesses can qualify for accounts receivable financing, we also offer purchase order financing and asset based lending. Purchase order financing is quite similar to accounts receivable financing in that it provides immediate cash to pay suppliers, while asset based lending provides a loan on the strength of business assets. For more information on these services, contact us 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.