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 18 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.
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 18 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 18 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%.
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.