1st Commercial Credit factoring program will provide capital for your business within just a few days. Once your account is approved, we can finance the invoices and advance you the funds within only 24 hours. Doing so will allow you to receive quick cash and avoid your business to wait weeks or months to receive payment from your customers.
Factoring companies that offer financing solutions to farm businesses charge a fee for accelerating this payment process which, with 1st Commercial Credit range as low as 0.69% to 1.59%.
1st Commercial Credit is a global leader in accounts receivable financing for small to medium-sized businesses and can provide lending options for all produce-related companies.
1st Commercial Credit has the resources and experience to help companies meet their payroll and other business obligations. Business owners come to 1st Commercial Credit for business financing solutions and take advantage of their still invoices.
1st Commercial Credit is a factoring receivables company that provides financial services for producers and makes the entire process simple and accessible. Receivables funding can be a complicated process that can be made easier if you partner with an experienced funding company.
Your ability to grow your business will depend on your ability to manage your business's day-to-day finances. For small and medium-sized businesses, one of the most common issues is cash flow. Especially for those businesses just starting, maintaining a healthy and consistent cash flow can be a huge problem. For example, many companies in the agriculture sector struggle with cash flow dips when it takes 30, 60, 90, or more days for client payments to arrive.
1st Commercial Credit has a two-page online application that can be filled out and submitted in a very short time. We can usually approve applications the same day we receive them. Once we have approved an application, we can have the account set up in 3 to 5 business days. Once an applicant is approved, it will have access to advanced funds against qualified invoices within 24 hours of receiving those invoices. The cost of factoring depends on the industry, having creditworthy customers, and the invoice management process. Our factoring rates for the produce industry are between 0.69% to 1.59%. You can contact us for a more direct and specific proposal for your business.