Over 18 Years in Business
Small Fleet Trucking Company
Dry Foods Vendor
Factoring Rates at 0.69% to 1.59% Click Here For A Quote
Accounts Receivable Factoring is used by businesses to convert sales on credit terms for immediate cash flow. 1st Commercial Credit adopts a quick and simple approval process and expedites initial funding in 3 to 5 days.
1st Commercial Credit offers a variety of purchase order funding solutions to meet your trade financing needs. P.O. Funding is suitable for any wholesaler, reseller, importer or any company that buys and resells goods.
1st Commercial Credit offers lines of credit for buyers that need to extend payment terms to suppliers. A digital platform was designed for suppliers and buyers to approve and pay invoices online with optional early payment discounts.
1st Commercial Credit funds Canadian based businesses by offering accounts receivable factoring services. Additional cash flow solutions including purchase order financing and trade payable finance.
Receivable Financing Rates at 0.69% to 1.59%
18 Years In business & Over 3,200 Clients Funded
Let's take a close look at the invoice collection process and try to determine how much of it your company can actually control. Your sales professionals head out into the world and sell your products or services to a target audience. If you do your marketing properly, then you can arm your sales professionals with leads that have a strong chance at turning into paying clients. You and your accounting group do your due diligence prior to approving each and every new credit account in the hopes that you can establish relationships with customers that do not promise to buy more product than they can actually pay for. The point to credit is to allow customers to buy product now, and then pay for it later. But the unpredictable nature of when customers will actually pay is when problems start to occur.
After doing your due diligence in establishing credit accounts, you allow your customers to start ordering products. Since these customers are on credit terms, your company is fronting your customers the money to buy these products. Until your customers actually pay their invoices, your organisation is on the line for the money required to fill orders.
Flexibility is one of the major benefits of factoring. Factoring is a great option for small businesses that frequently get rejected by banks for loans
Small to medium sized businesses do not always have the cash on hand to fulfill orders, so these businesses are sometimes forced to utilize receivable financing as a viable and fast solution. As the company waits to get paid for the products it has shipped on good faith, it continues to need cash to maintain operations and 1st Commercial Credit delivers the funds.
18 Years In business & Over 3,200 Clients Funded
As you can see, Canadian small to medium sized business run into trouble when they allow invoices to go 30, 60 and even 90 days past due. If these Canadian entrepreneurs manage to find a lender that will help fill in cash flow funds while waiting for clients to pay their bills, they will be in a great cash flow position.
1st Commercial Credit is an accounts receivable factoring organization that removes several of the financial challenges from the invoicing process. We will take your receivables and convert unpaid invoices to cash in your bank account.
Funding receivables is something that we do everyday. We can not only help your company meet its financial obligations with domestic transactions, but we also have the resources and expertise to facilitate international business as well. We are a full-service company that can show you how funding accounts receivable programs can help your business to grow.
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Bad Credit, Good Credit, Or No Credit At All
Every day, Canadian business owners struggle with decisions that could affect their companies' financial futures. Do you pay that vendor bill this week, or do you make your payroll instead? Most business owners will choose to make payroll, and that will put their vendor invoice into a past due situation. It offers the business owner a chance to see this financial process from the side of the late-paying client and it can also damage the company's credit score. The business owner looks at the stack of his own past due invoices and cannot help to feel frustrated at the position that his own clients have put him in.
1st Commercial Credit is not interested in your company's credit score.
Accounts receivables factoring is something that every company needs to utilize, regardless of their credit status. When we approve an invoice for funding, the approval is based on the financial status of your customer and not your company. We will allow you to use your client base's combined financial strength to your advantage.
With this kind of a program in place, you can pay your vendor bills on time and improve your credit. A start-up can make sure that it has the cash flow it needs to grow and avoid a plummeting credit score. A company with good credit can preserve that credit profile and prevent any kind of challenges from bringing down the company credit score. This is the ideal plan for any company and we do not care what your company credit profile says. All we care about is getting your cash flow moving using your invoiced sales.
Receivable Financing Rates
Financing Rates at 0.69% to 1.59%
Invoice factoring services offer great cash flow solutions to a variety of companies. Businesses that operate in certain industries use receivable factoring more than others. Industires may include staffing agencies trucking companies, and manufacturing companies often rely on invoice factoring to meet cash flow needs.
What makes these and other companies ideal candidates for receivable factoring services? Factoring companies offer invoice factoring to organizations that work on business-to-business models rather than business-to-consumer ones.