Accounts receivable financing 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 working days.
1st Commercial Credit provides a variety of purchase order financing solutions to meet your trade financing needs. P.O. financing is suitable for any wholesaler, reseller, importer or any company that purchases and resells goods.
Suppose your business in Baton Rouge has lost a line of credit, and you’re struggling to obtain the funds you need to run and grow operations. In that case, you can contact us to use our borrowing against receivables solutions to keep your company out of debt and replace your line of credit. A business line of credit is a treasured financial instrument that allows businesses to access financing efficiently and strategically. Having sufficient funds on hand also allows you to take advantage of opportunities, meet other capital needs and build a successful business. When businesses face tough times, traditional lenders can demand payment or find borrowers in default for minor technicalities. Business owners need to be prepared for this and always have a backup plan to deal with these situations when the bank removes your lines of credit.
In addition, banks and other lenders usually have a long and stringent list of requirements demanding that a business meets specific performance and liquidity standards and financial reporting. Companies that can’t meet any of these loan agreement requirements may be considered to be in default and have issues with their loan. In this situation, the lender could immediately decide to make you pay the total outstanding balance of the loan. Another possible complication with traditional lenders is that many credit-line loans often have on-demand provisions that can allow them to lower the maximum amount available without notifying you first or making you pay the balance immediately.
To avoid all of these headaches and complications, an excellent financial alternative for a business that sells to other companies and holds accounts receivable on its books, the most reliable, fastest, and easiest way to replace a lost credit line is by partnering up with a factoring company. 1st Commercial Credit will finance your accounts receivable in exchange for a small fee. This financing alternative is more affordable, especially when measured against the cost of lost sale opportunities and late payments.
The account receivable funding process with 1st Commercial Credit looks like this:
Accounts receivable funding is a flexible way to ensure your business has the cash it needs to grow. If you have invoiced other businesses and are waiting for payment, this can be used as adequate credit, and it gets rid of banks and their long and complicated processes with high interest and collateral demands. With this quick and flexible form of finance, businesses in Baton Rouge can meet many of their funding needs, including significant investments, payroll, and bills.
Factoring services offer an excellent solution for businesses of all sizes that need working capital to keep growing. Companies that the bank has rejected because of low credit, lack of collateral, or not long in the industry can still benefit from AR funding with us. Companies coming out of a challenging financial situation that need cash today to bridge the gap between invoicing and getting paid can also come to us. Some of the extra advantages we offer to our clients include:
Are you in the oil and gas industry and find yourself continuously waiting for the account receivable to be paid back. Not having access to sufficient funds can slow down your business. Instead of waiting for the invoices to get paid by your customers in 30-90 days, you can use oilfield and gas factoring to close these cash flow gaps.
You won't have to wait for the payment to come before fulfilling the work. Many companies in this sector can benefit from invoice factoring, including businesses in site preparation, pipeline construction, and exploration. Invoice factoring is an ideal financial solution if you deal with slow-paying customers and extended payment terms.
Oil and gas operations are complex and involve finding, extracting, refining, and selling oil and gas, refined products, and related products. It requires a substantial investment in a complex sector where environmental conditions can result in uncertain outcomes. Most of the time, exploration, development, and production takes place in joint activities to share the substantial capital costs. Gas remains challenging to transport, which is why many producers and utilities look for long-term contracts to afford the infrastructure required for this type of product. Additionally, the industry is constantly exposed to commodity prices, currency fluctuations, interest rate risk, and political developments affecting operations. The success of any company extracting hydrocarbons is challenging and includes many significant variables.
1st Commercial Credit is a factoring company offering highly flexible solutions that allow businesses to obtain cash within 24 hours. It focuses primarily on the creditworthiness of a business's clients and does not consider the business's assets or credit score. In addition, factoring does not have to involve a long-term agreement. We give companies the flexibility to sell the invoices they want and as often as they need. It is crucial for business owners to understand the invoice factoring process.
Invoice factoring provides receivable financing for oil drilling companies, enabling businesses to use their invoices to get immediate cash. Here are a few ways in which factoring helps oil and gas businesses in Baton Rouge:
Factoring is a quick and convenient option for the oil and gas industry to obtain working capital and remain competitive in this competitive industry. Our financing services are available to companies in all sectors of the oil and gas industry, provided they work with creditworthy clients and qualifying invoices. We also give the option to choose between recourse or non-recourse factoring. To get more information on how to apply and how your oil and gas business can take advantage of our financing services, contact 1st Commercial Credit today today.
Medical receivables financing solutions offer a fast and straightforward process for healthcare providers to obtain working capital. This financing method is ideal for healthcare agencies, medical practices, physicians, mental health clinics, hospitals, imaging centers, urgent care centers, and many others. Healthcare factoring provides immediate access to capital so medical providers can fund daily business operations. Factoring involves the purchase and sale of accounts receivable (invoices) at a discount from a provider. The lending companies providing these financing services are factoring companies, and the businesses selling their invoices are the healthcare providers.
Accounts receivable factoring is a feasible and popular option for healthcare providers that involves the transfer of an asset rather than obtaining a bank loan. Factoring companies determine eligibility based on the ability to collect the account receivable directly from your customers rather than the credit score of the healthcare provider. This makes factoring a suitable option for many growing businesses when conventional loans prove impractical or unavailable. This alternative form of financing also provides immediate cash access without making business owners wait long before receiving the funds. In addition, we offer extra servicing, including invoice handling and collections. Healthcare factoring provides an affordable and practical solution for business owners in this industry who want to improve or maintain a healthy cash flow when their customers take a long time to pay for goods or services.
The global economy is connected through international trade with foreign countries and growth is made possible through the open exchange of international commerce. The cooperation of governments has allowed for access in the near and far corners of the world, but tapping into these global markets requires importing and exporting services. That's where financing importers & exporters become a huge tool in this industry. 1st Commercial Credit will give you a breakdown of everything you need to know about import and export financing and why we can be your trade financing facilitator.
Import and export financing services pay for the accompanying expenses of receiving and shipping goods to and from companies in other parts of the globe. This is a capital-intensive working sector dealing with tariffs, freight rates, duties and fees, and more. Import and export financing provide the funding advances so the exchanging of goods can take place.
There is a minimum of three parties involved in the trade process:
Once a sales agreement is reached between the buyer and seller, the financial institution makes the funds available for the transaction to happen. Import and export trade finance isn't just an option; it's necessary to keep up with today's economy. That's why the ability to obtain reliable and competitive financing has never been more critical for export/import services. The appropriate financing program can make all the difference in the world when international trade is pivotal to cash flow. 1st Commercial Credit is the perfect financing partner. With close to two decades of bringing businesses together on opposite sides of the globe, we're the international partner that helps you get the financial solutions you need.
1st Commercial Credit can help equipment vendors and buyers obtain the financing to purchase equipment and tools to grow their business and improve efficiency. We are an established and experienced transportation and trucking equipment financier providing new or used transportation-related equipment and machinery so you can expand your trucking fleet or replace outdated equipment.
Our transportation equipment financing programs will offer the following for your business:
Suppose you are looking for transportation equipment financing for your growing company. In that case, we can provide a wide array of lending programs to assist various industries with funding that is often tough to get through traditional banks and credit unions. We offer our trucking and transportation customers competitive and complete services and industry experience. Our loan programs can be tailored to fit your needs, and any equipment required for your business operation is eligible for financing. We make the entire application and approval process simple so that you can get access to the equipment and tools you need.
Some examples of the types of vehicles and equipment that we finance include:
Partnering with us to obtain financing for your equipment needs is an easy and intelligent decision. We have over two decades in equipment financing and will work closely with you through every step of the process. Contact us today to begin an application and have a decision within a few working days. Once approved, the funds can be in your hands within 24 hours or less!
Baton Rouge is considered the home of many things in Louisiana with a prime, central location—just an hour away from Lafayette and New Orleans. Baton Rouge is a fantastic city to explore because of the diverse culture of this destination. Famously known as the "Red Stick," Baton Rouge is rich with more than 300 years in history. The city also offers a wide selection of incredible food, unique architecture, and an arts and cultural scene. Visitors will enjoy Southern hospitality at its finest and stay at one of many luxury hotels for a relaxing trip after exploring everything Baton Rouge offers.
Residing near the Capital City and the Mississippi River has views for the perfect vacation. You'll find many things to do in Baton Rouge from visiting the Shaw Center for the Arts and the Tin Roof Brewery. There are activities for travelers of all ages. When visiting Baton Rouge, you can immerse yourself in the city's history by touring the historic homes, visiting the Old and New State Capitol buildings, and checking out the vast number of local attractions.
Baton Rouge’s economy is supported by all the different industries thriving in this place. Some of the key industries in Baton Rouge are oil & gas, healthcare, manufacturing, and education. The oil and gas sector is the most important sector of the Baton Rouge industries and the most significant economic driver. In addition, the petrochemical industry has become one of Louisiana’s most significant export sectors.
The plastics industry is also a prominent player in the city’s economy. Baton Rouge acts as a central hub for industries in Louisiana. Other leading industries in Baton Rouge, Louisiana, include aerospace, defense, biotechnology, and advanced materials.
The energy production and advanced manufacturing sectors— alongside cutting-edge technology fields such as software development and audio engineering are forming a stable foundation with a solid future for growth in the Capital Region. Forbes magazine has named Baton Rouge one of the Top 10 mid-sized cities in the nation for information jobs. This recognition helps to strengthen further and validate the Capital Region’s position as an attractive, thriving area for both industries and employees in Baton Rouge.