Accounts receivable financing is used by businesses to convert sales on credit terms for immediate cash flow. 1st Commercial Credit adopts a quick and simple approval process and expedites initial funding in 3 to 5 working days.
1st Commercial Credit provides a variety of purchase order financing solutions to meet your trade financing needs. P.O. financing is suitable for any wholesaler, reseller, importer or any company that purchases and resells goods.
Aurora businesses have no limits when cash flow is available. Companies with a healthy cash flow will easily cover payroll, bills, and leases. Business expansion is possible, and investing in marketing to promote your business' services or products. Purchasing equipment and supplies will not be an issue either. Selling your company's receivables to a factoring company in Aurora can provide all these benefits by giving you fast cash in exchange for your outstanding invoices. The best part of this financial solution is that no debt is created because it is not a bank loan. An experienced accounts receivable factoring company in Illinois offers the best financial alternatives for businesses to solve cash flow issues.
Invoice factoring is the best financial alternative for businesses to solve cash flow issues.
Factoring companies in Aurora, like 1st Commercial Credit, have a fast and efficient application and approval process. Compared to bank loans, factoring companies can make a prompt decision, generally within a few working days. Once your company is approved, funding can happen within 24 hours. The factoring company will focus on your customers' payment history and credit, not your company's, meaning that you can still be approved even if you have a low credit score.
Aurora businesses are prospering and experiencing growth. 1st Commercial Credit can provide the funds for your brand new company and already established businesses that need the available cash to expand. The city of Aurora has a long history with manufacturing. Some of the big manufacturing players in Aurora, Illinois, include Lyon Workspace Products, Barber-Greene Company, The Aurora Silverplate Manufacturing Company, the Aurora Brewing Company, Caterpillar Inc, and Allsteel Metals, to mention a few.
1st Commercial Credit is an experienced invoice factoring company with supply chain finance solutions that can evaluate your Aurora business' receivables and provide a prompt decision. We fund business in all industries in Aurora and offer competitive financing rates of 0.69% to 1.59%.
Invoice factoring will provide a steady source of cash flow without added debt. We know all companies are unique and have particular needs. 1st Commercial Credit will evaluate your company's receivables without commitment to figure out how we can help you and advise you appropriately. 1st Commercial Credit offers three principal financial instruments that all industries in Aurora need, including invoice factoring, purchase order financing, and trade payable credit.
Aurora companies in need of cash flow can use accounts receivable financing as their financial solution. Factoring receivables will allow companies to maintain a consistent and healthy cash flow and improve their financials while meeting payment deadlines to suppliers, covering payroll, purchasing equipment, and other financial responsibilities. Bank loans are often difficult to obtain, and for many businesses in Aurora, this is not even an option. Banks loans will provide cash but also debt. When comparing bank lines of credit and invoice factoring, it is clear which one will benefit your business. 1st Commercial Credit is an experienced factoring company in Illinois.
With more than 20 years in the business, we have helped many companies in all industries. 1st Commercial Credit finances some of the most popular sectors in Aurora, including trucking, manufacturing, and construction, to mention a few. Every company has its way of doing and running its business, especially in different industries. 1st Commercial Credit has gained extensive experience working with various sectors and can accommodate your business needs.
Industries 1st Commercial Credit Finances:
Trucking and freight - The hauling and delivery of goods are essential for Aurora's economy. Trucking and freight companies use factoring to meet their daily cash needs, including fuel, maintenance, permits, repairs, insurance, and payroll. We also have software that helps your drivers upload images of the bill of lading and merges them with your freight bills.
Oilfield services - Cash flow is more critical each day for the oil and gas industry. Invoice factoring is the right financial solution for oilfield-related companies because it offers fast cash, and the process is simple and straightforward. This type of financial service is available to oil and gas exploration service providers and field equipment suppliers such as seismic survey or geophysical operators, manufacturers of drilling fluids, drill rigs, lifts, geophysical prospecting equipment, pipes, pumps, production tools, valves, wellheads and many more.
Distribution - Our complete supply chain finance solution for distributors and resellers in Aurora involves utilizing your customer's financial strength in establishing your invoice factoring lines of credit. Once we create your account, you will have access to other distribution financial tools we provide. We can assist your business with our accounts receivable financing and other financial solutions. Because of the flexibility that we offer, you will take your company's capacity to the next level.
Government contract - We are very familiar with government contractor receivables and can provide immediate funding for your business. The invoices billed to the government for goods delivered or services rendered can be converted into an accounts receivable credit line from which you may draw fast cash to manage your business better. We have experience in financing receivables to companies whose primary business is performing technical services or manufacturing for the federal government.
Cable and Telecommunication - Many cable and telecommunications contractors use the invoice factoring cash flow benefits to grow or expand their business opportunities so they can continue delivering services.
Staffing agencies - We provide accounts receivable factoring for many staffing agencies and employment firms and make the process of borrowing money for your staffing agency simple. Because of longer payment terms on most staffing contracts, cash is usually problematic. The fast cash from payroll loans for business allows agencies to meet their weekly payroll requirements while meeting the company's financial needs. 1st Commercial Credit is also a payroll factoring company specializing in payroll funding and accounts receivable lending for staffing agencies.
Manufacturing - If you are looking for a factoring company that fund manufacturing businesses, 1st commercial credit provides all the financial tools your company needs. Manufacturing companies in Aurora are experiencing cash flow issues that make it challenging to pay suppliers on time before shipments, cover duty fees and logistics costs required upfront, and offer longer credit terms. Accounts Receivable can sometimes be considered a significant asset that most lenders don't want to lend on. When payments take a long time to arrive, even the most successful manufacturing companies have difficulties meeting their expenses. Rather than dealing with constant cash flow instability as well as stunted growth, begin selling your company's receivables to an invoice factoring company in Illinois to obtain access to the working capital your business needs.
With a business loan or line of credit, you have nowhere near as much flexibility as with our Aurora accounts-receivable financing programs because at 1st Commercial Credit, as your business grows, we deliver the funds.
Choosing the right factoring company is essential for a successful factoring experience. A factoring company should meet the cash requirements of your business and offer extra services that will bring value to your company. 1st Commercial Credit offers receivable factoring services for all types of businesses that serve many industries.
With more than 20 years of experience, we are the preferred invoice factoring company in the nation for growing companies. We factor in unpaid invoices for small, medium, and large companies every day. Our customers enjoy incredible growth after they set up an accounts receivable factoring agreement with us.
There are many reasons why Aurora businesses will seek the help of a financing company. Invoice factoring can be the best financial solution for businesses experiencing cash flow issues caused by bank loan rejections and extended credit terms. Selling your company's receivables will also allow you to expand and grow your business in Aurora.
Knowing and understanding the invoice factoring process will help you make a more informed decision when comparing financial solutions. An incorrect assumption is assuming only companies struggling can benefit from working with an accounts receivable factoring company. Successful companies have found this financial solution to expand and still offer better credit terms than the competition.
1st Commercial Credit offers the best financial solutions for Aurora businesses. With more than 20 years in the industry, we can evaluate your company's receivables and provide you with funding options. Our simple requirements include:
The decision is based on your customer's creditworthiness, not your company's. This means that even if your business has low credit, it can still qualify for our financing programs. 1st Commercial Credit looks at your customers' ability to pay for the pending invoices. This is an incredible advantage, especially for new businesses, because you can still apply for invoice factoring with us. Banks would immediately reject a similar situation because they consider credit score a primary criterion to approve a loan. Other types of businesses benefiting from our financing programs are companies with seasonal or uneven sales patterns or start-up operations. Any business can qualify for receivable financing if it generates sales on open credit terms to customers with financial credit strength.
If your business is looking for an experienced and reliable invoice factoring company in Aurora, 1st Commercial Credit can provide the best catered financial solution for your business. We can help businesses by providing invoice factoring for just about every industry. A financing account can be set up within 3 to 5 working days, and our competitive factoring rates are between 0.69% and 1.59%.
Many business owners struggle between purchasing new and updated equipment which is very expensive, or operating with the same old equipment and affecting the business. We know finding the right equipment for your business may require additional cash that is not always on hand. Our trucking and transportation equipment finance programs help get you the equipment you need now and without complicated processes.
Business owners looking for equipment financing plans for their trucking business must choose a reliable and experienced lender that knows the industry and is ready to offer the best financing plans. Whether you are looking into starting a trucking business or making plans on growing your existing fleet, 1st Commercial Credit provides the flexibility to meet the needs and goals of your business.
Whether it is a limousine business, hauling, or public transport company, you may need transportation financing if your business is experiencing any of the following:
All sectors in the trucking industry require some pieces of equipment that are specific to the industry. We offer various financial solutions to help get such pieces of equipment, including auto repair equipment financing. We can help you buy these items or lease them. A loan or lease can be instrumental in helping you get the equipment and tools for your business.
1st Commercial Credit is a dedicated financing company to help you get started in the best way possible. We structure the best plans and use our financial advisors to get the best deals in the transportation industry. In addition, we also offer customized payment plans and set up manageable and reasonable installments that you can manage. Our specialists understand the transportation industry and the unique needs this industry faces. Choosing 1st Commercial Credit will prove to be the best decision for your business.
Here are a few reasons why:
1st Commercial Credit is the transportation financing finance company you need on your team. Contact us today to get the financial help your transportation company deserves. One of our specialists will gladly attend to you and answer any questions you may have.
The primary industries in Aurora, IL, include manufacturing, retail trade, and healthcare. Aurora’s most common jobs are office and administrative support occupations with 12,070 employees. Sales-related fields employ around 10,920 people, and the production occupations around 10,000.
Aurora is the second-largest city in Illinois with a population of 200,456 and the 124th most populous city in the country. Aurora is known as the "City of Lights" because it was one of the first in the nation to illuminate its streets with electric lights. Situated along the Fox River and the Ronald Reagan Memorial Tollway, the city extends 46 square miles. Aurora is also located 35 miles west of Chicago, making it an excellent location for businesses and those who might want to live close to the bigger city.
We are a factoring company financing businesses in Illinois and can provide financial solutions to the following cities: