1st Commercial Credit has more than 18 years of experience funding manufacturing companies, distributors, service providers, and other various industries in Chicago. We are a preferred lending company because we provide simple and accessible financial solutions to businesses in need of a healthy cash flow. We give you extra working capital by purchasing your company’s receivables. 1st Commercial Credit will have a quicker process with minimal paperwork and requirements. The decision is based on the creditworthiness of your customers, not on your company’s credit and financial history. Our financial solutions will solve all your cash flow issues, and it is an excellent alternative for businesses that may not qualify for traditional loans from other financial institutions.
We provide funding for many industries, including the temporary staffing industry. Staffing agencies benefit from accounts receivable financing, and firms in Chicago searching for a financial solution can use their outstanding customer invoices to finance their operations. Companies of all sizes benefit from our funding programs. When customers don’t pay for services or goods quickly, it can cause cash flow shortages, resulting in late payments to suppliers, backup orders, and paused growth. Factoring companies can provide cash for your business to keep up with its operations. Factoring receivables is a great alternative for those companies in need of cash sooner than the receivables are due. Using your pending invoices in exchange for a healthy and reliable cash flow has never been easier. This financial solution is especially beneficial to companies with many aging accounts receivables and accumulating bills.
Companies can receive unlimited payroll funding from us. We convert your outstanding invoices into fast cash when your business needs it the most. Once an account is created with 1st Commercial Credit, future funding is done within hours that same day.
The city is also a prominent geographic center for global trading because of its location and O'Hare Airport. Among the many booming industries in Chicago that benefit from this, we can find insurance, life sciences, and healthcare, technology, trucking, distribution, and logistics at the top of the list.
Positive cash flow is necessary to have a healthy business. Cash flow issues happen when a company does not have enough cash to cover its business expenses and legal responsibilities. This situation can threaten companies in Chicago. Cash flow issues can arise from sales on extended credit terms, slow-paying customers, low-profit margins, problems invoicing and collecting, and having too much inventory.
Planning and preparing for cash flow problems can empower you to have a safety net and probably even avoid possible financial trouble within your business. Paying business debts and covering expenses can be a struggle when the cash going out of a business exceeds the money coming in.
Businesses experience a net cash outflow when making large payments or experiencing seasonal fluctuations in sales. Cash flow only becomes a problem when the cash going out exceeds the money going in. When this happens, the business uses up its cash reserve and can no longer meet its financial responsibilities.
Among the types of Trucking and Freight companies that benefit from our invoice factoring program, we have:
Staffing Company Factoring
1st Commercial Credit offers accounts receivable factoring for staffing. Some of the staffing companies that benefit from 1st Commercial Credit’s funding services include IT staffing companies, warehouse staffing companies, medical staffing agencies, and administrative staffing companies, to mention a few. Staffing agencies borrow money from us every day because we make it a simple and straightforward process for them. 1st Commercial Credit provides financial solutions, including invoice factoring and payroll funding for staffing agencies in Chicago every day. We have more than 18 years of experience working with staffing firms and provide a fast approval process.
Construction companies factor in their invoices
The construction industry can qualify for our accounts receivable financing programs. All construction-related companies, including general contractors and subcontractors, are covered with our receivable financing for construction contractors across all sub-trades.
Construction is an industry where it’s prevalent for payments to come months after work gets completed. Invoice factoring allows construction companies to get paid immediately when they invoice, allowing them to improve cash flow.
Chicago has a robust and diversified economy. Chicago has more than 4 million employees and generates an annual gross regional product of over $698 billion. The city is also home to more than 400 major corporate facilities. Chicago thrives in sectors such as management innovation, information technology, health services, and manufacturing. The city is one of the central locations for corporate relocations and expansions and is regarded as the primary hub for transport and telecommunications.
The city is also a prominent geographic center for global trading because of its location and O'Hare Airport. Among the many booming industries, we find Chicago at the top of the list for security brokers, dealers, and exchanges clusters in the US. Chicago is also the second-largest corporate headquarter cluster and the third-largest distribution cluster.
The city of Chicago, the capital of Illinois, is located on the banks of the great Lake Michigan. Chicago is the third-largest city in the United States, with a population of 8,865,000. The city is known for its skyscrapers, food, architecture, history, culture, and nature.
Chicago is also called the "city of neighborhoods" because the city is full of sub-communities. Another nickname the city has earned is the "Windy City," attributed to Lake Michigan's winds that keep blowing the city center. The city of Chicago is also home to many tallest buildings in a metropolitan area in the country.
Lake Michigan is a big part of Chicago's attractions. Many outdoor activities in the lake give the city a bit of beach-like outdoor life when the weather is good. North Avenue Beach is an example of this, and this iconic beach provides a combination of the perfect scenic beach and city lights. The lake's popular activities to enjoy are the lake beaches, outdoor yoga, sun-basking, cycling, and running.
Chicago also offers a rich culture because of its museums, unique influence on cuisine, architecture, and city tours.