1st Commercial Credit will provide you with detailed reports on the status of your receivables, which helps you better manage your business and cash flow. This can also help you save time and focus on other crucial aspects of your business.
Some forms of funding require you to give up a portion of the equity in your company in exchange for that funding or pledge extensive collateral. You don't have to do either with accounts receivable financing, keeping control, and ownership of your company and assets.
No debt to repay
Factoring isn't a loan, so you don't acquire debt when you factor in your invoices.
Help with back-office functions and admin
We can help you explore solutions and determine if accounts receivable financing works for your company. In addition, we will also offer our help with the processing of your invoices and billing.
With our payroll services, a firm can expand its talent base by bringing employees to work without the financial and administrative burden. 1st Commercial Credit is responsible for all payroll and administrative functions, including hours, recordkeeping, tax withholding, unemployment insurance, and other payroll-related functions.
A payroll funding company provides a financial solution to get instant cash flow for staffing agencies in Fort Wayne. To continue running and managing operations, these agencies sell their unpaid receivables to a factoring company in exchange for an advance. A staffing firm with a dependable and constant source for funds will have the ability to grow and continue taking on contracts without worrying about cash flow shortages. Payroll funding will give you the confidence of knowing your company can make payroll each period, taking a massive burden off your shoulders. 1st Commercial Credit’s payroll solutions will provide you with the financial freedom to focus on growing your agency, invest in marketing efforts, filling orders, and achieving the goals for the future.
Cash flow is vital for staffing agencies in Fort Wayne, and they can now use their accounts receivable to get the cash needed to pay employees. We can eliminate the burden and stress of waiting for those extended payment terms and risking losing your talent and passing on expanding and recruiting opportunities. Payroll financing allows a company to remain flexible and competitive in the staffing industry.
The healthcare industry continues experiencing unprecedented growth in Fort Wayne. Businesses providing medical services, such as doctors, diagnostic centers, and medical equipment providers, serve many patients daily. Unfortunately, these companies experience some of the slowest customers, and, in many cases, insurance claims take even longer to pay.
The increasing number of patients, lower per-claim revenues, and longer payment times often lead to cash flow issues. Even though most healthcare companies will face this problem from time to time, the key is to plan for it. There are two biggest challenges to cash flow for health care providers. One is the insurance payers, and the other is waiting for patients to make their out-of-pocket payments. Over time, they accumulate, and that can make your healthcare-related business struggle and be more dependent on credit to meet payroll, purchase supplies, and continue running operations. Filing a claim and waiting for the insurance company to work through the approval process can be a long wait, and that's where these cash flow challenges can be beyond your control.
The cash flow situation for a healthcare company can jeopardize its management and the ability to fund operations and meet financial responsibilities. Therefore, healthcare companies must be able to find a solution to resolve cash flow issues quickly. One incredibly accessible and quick popular solution for cash flow problems is medical receivables financing. This solution helps medical providers with cash flow problems due to slow-paying insurance claims.
Accounts receivable in the healthcare industry come primarily from three classes of payors: Medicare, Medicaid, and other payers, consisting of private insurance, managed care, and self-pay. As payors, all of these agree and accept financial responsibility for payment of medical costs incurred by a patient and can therefore be sold to a factoring company for financing. 1st Commercial Credit is an experienced lending company offering factoring to Indiana businesses with simple application and funding processes.
Fort Wayne has more than 200 years of history, and it is the second-largest city in Indiana and the hub of Northeast Indiana. The Fort Wayne Metropolitan Statistical area comprises Allen, Wells, and Whitley counties and has a population of over 430,000. Today, Fort Wayne is the hub of three rivers and a central metropolitan area and continues to progress as corporations and individuals live, thrive, and expand together. Fort Wayne continues to invent, innovate, and progress as a city along with all the industries that call it home.
Fort Wayne has a deep history rooted in innovation and manufacturing. Still, today's economy has diversified into a few key industries, including specialty insurance, vehicles, medical devices and technology, design and craftsmanship, food & beverage, logistics and e-commerce, and advanced materials. Fort Wayne is recognized for offering exceptional quality of life, a competitive business climate, and a talented workforce. Allen County is a wise investment choice for many companies looking to relocate or establish in Indiana.