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Provided by 1st Commercial Credit
If you offer credit to commercial accounts, then invoice factoring is a flexible way to replenish the cash flow gap that is caused by slow paying customers.
At 1st Commercial Credit, compared to other invoice factoring companies, we make factoring services easy to obtain with minimal requirements and usually can have a same day decision. If your business sells to commercial accounts on credit terms, then your business may qualify for this type of financing. The approval process is simple to evaluate and we can expedite initial funding in 3 to 5 working days. Factoring accounts receivable has become the preferred financial tool in obtaining flexible working capital for small to medium size businesses.
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Click Here for a Quote Rates At 0.69% - 1.59%
What is Invoice Factoring Services?
Receivable based factoring converts invoices sold on credit terms for immediate working capital. It has become a simple, fast and easy way to access business cash flow. 1st Commercial Credit is a factoring company that specializes in evaluating accounts receivable and can make a prompt approval decision. The credit is determined by the financial strength of the customer (Buyer or Account debtor), not the client (The seller of the invoices/receivables). This method involves very little underwriting and allows our prospective clients to acquire funds within days of completing an application.
Business owners realize that there is no need to borrow money from a bank in order to offer credit terms to customers. Factoring receivables is similar to a receivable loan offered by a bank. It is considered a purchase of the receivables at a discount and not a loan. This enables the business owner to obtain immediate cash flow collateralized by the outstanding receivables without going through cumbersome paper work and waiting weeks for a decision.
1st Commercial Credit is an Invoice Factoring Company that provides funding in days, not weeks.
- Financing Rates at 0.69% - 1.59%
- No Financials - No monthly minimums - No invoice minimums
- No facility fees - No audits - No up-front fees - No hidden fees
- Set up account in 3 to 5 working days - 24 hr funding thereafter
- Credit Lines starting at $5,000 & up to 10 million
- Customer referrals upon your request
- We Make Same Day Decisions
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At 1st Commercial Credit, we make invoice finance a simple process with minimal paperwork. We make decisions primarily on the invoicing process and the credit strength of the account debtor (buyer). We specialize in evaluating and financing receivables and can make a prompt decision within a day. This financial option involves very little underwriting. The approval process is fast and we can employ funds within 3 to 5 working days after completing an application.
The Hidden Collateral: Invoices Generated on Credit Terms.
Companies that invoice on credit terms have a hidden asset that most business owners do not realize can be used for collateral. 1st Commercial Credit specializes in collateralizing on invoices sold on credit. Usually Net 30, 45 or 60 day terms. The receivables are pledged as collateral and the business may draw cash against the eligible invoices at any time. Invoice factoring, also known as accounts receivable finance is not a loan, so there is no need to make payments because your are using collateral that already exist or create debt to your business.
There are many elements that go into running a successful business. You need strong marketing to drum up interest in your products, and then you need talented sales professionals to turn that interest into sales. Then you must have a professional customer service team to handle customer inquiries and deal with disgruntled clients.
On top of these administrative functions, there are also logistics, manufacturing and a host of other elements that go into making any company successful. All of these functions require money to perpetuate, and that is where many small to medium sized businesses run into trouble. Cash flow can be a huge concern for companies, and a crimped cash flow can prevent important expenses such as payroll and vendor bills from being paid on time. The downward financial spiral that this creates can often lead to frustration on the part of the business owner.
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Invoice Factoring From 1st Commercial Credit Is The Answer
Every business owner needs to realize that a legitimate invoice made out to a creditworthy client is an asset that can be used as collateral. While most business owners see a stack of past due invoices as a burden, the business owners familiar with invoice factoring see those invoices as the foundation for improving their cash flow and getting their business back on track.
Invoice factoring is the process of utilizing your outstanding invoices as collateral against cash advances into your company bank account. The process is so simple that you will wonder why you did not do it years ago. It is the ideal way to improve your cash flow and have the cash on hand that you need to pay your ongoing operational obligations. It can also be the way that you plan future growth for your organization without the need for bank borrowing or interest-bearing lines of credit.
Factoring Invoices Works In A Variety Of Situations
1st Commercial Credit has extensive experience in helping companies in industries such as construction, IT support, medical, trucking, product distribution, oil and gas exploration, warehousing and staffing. Any industry where companies generate legitimate invoices to creditworthy clients is an industry where 1st Commercial Credit can help.
In some cases, rapid financial growth can be a burden and a benefit. When your company starts to take on more invoices that your cash flow can support, then you have a problem that any organization would love to have. The trick is finding a solution to that problem that will allow you to fill your current orders and take on new orders as well. If you don't get the cash flow going, then you may have to start turning orders away.
Invoice factoring through 1st Commercial Credit will put those outstanding invoices to work for you and advance you up to 95 percent of the face value of your invoices, depending on the industry that your company works in. It is an organic line of credit that grows with the increase in your invoiced sales. You are never over-extending your company's finances, and you are allowing your company to grow at a natural pace.
The 1st Commercial Credit website has a two-page application that you can use to get up to $350,000 in advances instantly. Along with your application, we would need your updated aging reports, your rate confirmation agreements, your list of clients, your list of invoices you need factored, copies of those invoices and copies of your articles of incorporation or your DBA filing.
If you notice, we did not ask for a start-up fee or facility fee, and we also did not ask for your company's financial reports. We do not charge start-up or facility fees, and we also do not charge any hidden fees at all. We will disclose all of our fees up front to you and then those are the only fees that you will pay. We also do not have a per invoice or per month minimum requirement either. We can handle any situation, regardless of the size.
We do not need to see your company financials when you sign up, and we will not conduct audits to see your company financials in the future. We base our decisions on the creditworthiness of your clients, which is why your credit score does not matter. This allows us to help companies with bad credit or no credit, along with clients who have a great corporate credit profile.
Once we get your completed application, it takes around three to five business days to set up your account. After your account is in place, we can start advancing you funds within 24 hours of receiving your invoices. We do all of our client credit checks automatically and we can give you answers the same day.
Call Now 1 800 876 6071
When you are trying to turn a start-up into a successful business, you face a great deal of obstacles. One of the most challenging obstacles, especially to a start-up that sees initial success in the form of significant invoiced sales, is getting the cash flow you need to fill orders and keep customers happy. If you cannot get your cash flow going, then you may have to turn orders away and possibly close your doors. That can be frustrating when you have a stack of past due invoices sitting on your desk that would more than cover your cash flow needs.
Factoring invoices with 1st Commercial Credit will put your invoices to work for you and get you the cash you need immediately. You will not need to go to the bank to try and get funding, you won't need to turn away orders because you lack the capital to fill them and you won't have to worry about shutting down your company any time soon.
We have helped clients who are just coming out of bankruptcy, clients who have state and federal tax liens against them, and we have helped companies who have lost their bank line of credit due to missed or late payments. Since we are not interested in your credit score, we can use your outstanding invoices as the collateral necessary to advance you the funds you need.
1st Commercial Credit is ready to get your company started with invoice factoring immediately. There is no need to worry about bank funding of your ongoing operations when you already have the means to improve your cash flow in your accounts receivables aging report.
Our application process is simple and we can give you are response the same day that you submit your completed package. You can use our invoice factoring services to pay your ongoing operational expenses, and you can also use it to plan future company growth as well. When you know that you will be getting the face value of your invoices on or before the invoice due dates, then you can use that information to plan future growth projects and attain all of your corporate goals.
Your legitimate outstanding invoices to creditworthy clients are assets that your company needs to utilize. With invoice factoring through 1st Commercial Credit, you will have the cash flow that you need to meet all of your important obligations, and you will also have the flexibility that you need to make plans for your company's future growth as well.
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Call Now1 800 876 6071Click Here for a Quote Rates At 0.69% - 1.59%