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Factoring Finance for the Electric Motor Industry

Why Choose Us? Accounts Receivable Financing is our Business
  • 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
  • Credit Lines starting at $5,000 & up to 10 million
  • Customer referrals upon your request
  • We Make Same Day Decisions
Over 15 years in business
Click Here for a Quote

Call Now 1 800 876 6071

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.

The advantages of financing accounts receivable include the use of a back-office support for collections if needed, set up an account in a 3 to 5 days or increase your credit limits within 15 minutes. Your funds will be advanced typically within 80% to 90% of eligible accounts receivable net value. The balance of the advance or reserve is held back until the customer pays the invoice in full. New accounts can be added easily.

Any electric motor service provider, manufacturer or wholesaler can qualify for a factoring receivables credit line if:

  • Young companies experiencing growth and need cash today. In most cases they have been turned down by traditional bank loans due to a lack of a financial track record.
  • Mature companies that have capped their working credit line established by a bank and need more leverage. This situation may require to pay the financial institution off so the client can establish an unlimited factoring credit line that will be based on the customer's credit worthiness.
  • Electric Motor Companies that are experiencing lack of service from another factoring company.
  • We can accommodate factoring credit lines to businesses with funding needs up to $10 million a month. 

Industries we Factor in the Electric Motor Industry

  • Service Repair and Rewinding Electric Motors
  • Manufacturer Electric Motors
  • Wholesale

Call Now  1 800 876 6071

Click Here for a Quote  Rates At 0.69% - 1.59%


Cash Flow Using Receivables as an Alternative Collateral

Factoring finance for the electric motor industry can be provided to companies that are experiencing growth. Often the request for traditional loans are turned down due to a lack of a financial track record or not enough time in business. At times, mature companies with existing financing in place have capped their working credit line at the bank, often needing more leverage in order to extend higher credit limits.

This industry is up and coming. Often the accounts receivable are for a variety of different services that include service and repair, manufacturing, and wholesaling. A credit line can be set up based on the percentage of eligible accounts receivable. The financing fees are usually easy to understand, and the terms of repayment can vary. The invoices for factoring can be funded within 24 hours, and the complete funding delivered within three to five working days. This type of funding eliminates the need for bank loans or small business administration loans.

Up and Coming Manufacturers in the Electric Motor Industry

There are several companies today that are a part of this up and coming electric motor industry. A few names include the traditional manufacturers such as Toyota, Honda, and Ford. Other automotive distributors with electric motor industry ties are those including Tesla, AMC Pacer, Samsung, Panasonic, Subaru, the Chevrolet Volt, the Navistar, and the Magma.

Electric Motor Companies can Finance Accounts Receivable?

The advantages of financing accounts receivable include the use of a back-office support for collections and invoicing.Keeping up with cash flow in a more organized manner will allow for easier business growth. Factoring Receivables for a business in the electric motor industry requires for the verification of an invoice or receivable aging. Funds will be advanced typically within an 80% to 90% range. The balance of the advance or reserve is held back until the customer pays the invoice in full. New accounts can be added easily. Due diligence of liens and pending lawsuits is performed prior to the funds being distributed.

How is Factoring Different than a Bank Loan?

This type of funding is focused on the creditworthiness of the applicant. A bank loan officer will usually focus on the company's financial history and cash flow. Accounts receivable financing or funding is not a loan and the business is therefore, not burdened with further debt obligations. The factoring decision is made quickly rather than a bank loan may take up to a few weeks or months for a decision.

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Receivable Financing Rates

Starting At 0.69% - 1.59% Or Prime +2% & Admin Fee

  • Quick Approval Process!
  • No Financials up to $350k
  • Easy Set-Up in 3 to 5 Days
  • Over 15 years in business
Click Here for a Quote
1st Commercial Credit Provides Asset Based Lending, Purchase Order Financing and Factoring to all States: