If you sell services or products to other companies, your business will likely be eligible for accounts receivables financing. 1st Commercial Credit finances startups and small businesses in various industries in Montana. Our funding decisions based on receivables do not take into account low or bad credit. A business can obtain the financing needed by selling its accounts receivable to an experience factoring company. These companies work with various industries, including agriculture, staffing, transportation, distribution, manufacturing, oil and gas, healthcare, and many more.
Accounts receivable financing gives companies immediate payment for their outstanding invoices before the payment term is completed, which can take from several weeks to months. Factoring companies will advance you a previously agreed percentage of the pending invoice value and charge a small fee in return. 1st Commercial Credit offers receivable financing services for businesses facing cash flow issues in Montana. We offer three types of financing programs that can provide fast cash and many other advantages:
Invoice factoring - 1st Commercial Credit factors your invoices and, depending on the industry, advance up to 96% of the face value of the unpaid invoice. The lending company will take ownership of your invoices and be responsible for collecting directly from your customers. With invoice factoring services, once full payment is received for the invoice, the remaining amount minus a small fee will be sent back to you.
Accounts receivable loans - this kind of “loan” is very different from any other traditional loan. With this financing alternative, a company chooses the receivables to submit to the factoring company (1stCC) for early payment. As opposed to factoring, with accounts receivable loans, your business will receive full payment for each invoice upfront and not have to wait for the remaining balance once the invoices are paid in full. This is why it is called a “loan,” even though it is incredibly different from any other traditional loan. The financing rates for AR loans are generally lower, and transactions do not appear on the balance sheet or affect a company’s debt ratio.
A business can use its receivables to obtain immediate cash and avoid financial challenges when attempting to fulfill payroll, pay taxes, and cover existing debt. It will also give businesses in Montana the flexibility to expand and acquire more significant contracts without worrying about not having sufficient funds.
Businesses in Montana no longer have to rely on banks for funding. Small businesses in a challenging cash flow situation can now turn to invoice factoring for a fast and simple financing alternative to improve their cash flow situation and secure money to grow. Even if your business doesn't qualify for other forms of traditional financing, like bank loans, invoice factoring is still an option because we accept bad credit and focus more on your customers' credit.
Invoice factoring is a financing alternative available to businesses that may not qualify or have an established relationship with a lender. Banks often base loan approval decisions on a business's assets and financial and credit history. On the contrary, invoice factoring is an accessible way for companies to obtain the funds currently tied to their accounts receivable. Some of the requirements for companies to qualify for our factoring program includes:
Businesses of all sizes and in different industries can benefit from our factoring services. All you need to do is continue to run the business, as usual, delivering products or services generally to other companies, and use those invoices to get funding. 1st Commercial Credit is a specialized lending company in Montana offering immediate funding with flexible financing programs and competitive financing rates. We don't have any minimums or maximum amounts to factor in or long-term contracts.
A factoring company (or accounts receivable factoring) converts invoices sold on credit terms for immediate working capital at a discount. It has become a simple, fast and easy way to access business cash flow. In comparison with a traditional bank loan, a company that factors receivables has a quicker approval process.
1st Commercial Credit is a factoring receivables company that specializes in evaluating accounts receivable and can make a prompt approval decision. The documentation requirements are not as lengthy, and the main requirement is that an applicant has invoices for work or orders that have already been satisfied. It also helps to have creditworthy customers. As long as a business has been in operation, meets revenue requirements, and is free of liens or legal issues, approval is likelier.
The freight and trucking industry is vital for any economy in the United States. Freight brokers focus on helping shippers find reliable carriers to place their loads at fair pricing. A freight broker is a transportation intermediary who plays a vital role in the cargo movement. Brokers provide valuable services by helping carriers fill their trucks and earn commissions for their work. At the same time, brokers help shippers find reliable motor carriers, which can sometimes be tricky to find. In some cases, brokers will take complete control and coordinate all the company's shipping and transportation management needs.
Unfortunately, it is common for businesses to wait for payment from a client in this industry. This situation can significantly slow your company's operations down and make payments to carriers impossible to fulfill, preventing you from continuing to take on new loads. 1st Commercial Credit is fully aware of this situation and provides freight factoring for truckers and for all industry-related companies in Montana. Our financial solutions allow you to close the payment gaps and continue moving forward. Our freight broker factoring services make it easy to fund new placements without turning to high-interest business loans. 1st Commercial Credit can review your freight bills and financial situation and send you fast cash today!
Factoring Is A Simple Process With Us:
Trucking companies no longer have to wait 90 days + for payments. They can use our funding services offered to cover business costs and pay carriers. Truck factoring services can advance a high percentage of the total invoice amount in 24 hours or less and then collect payment directly from your customers. This financial solution will resolve your cash flow struggles while saving time and money to focus on many other aspects of running a successful business.
Our simple funding process gets you the fast cash to run a thriving enterprise. The invoice factoring process is as follows:
Factoring Is A Simple Process With Us:
1st Commercial Credit is an experienced lender offering the best equipment financing for trucking and transportation businesses in Montana. We understand your trucking and transportation company is built on reliability. This is why it is vital that you keep your vehicles and equipment up to date and working correctly. While the budget for new trucks is not always available, equipment leasing with 1st Commercial Credit makes it possible to get them.
Owning equipment does not produce revenue for your business, and there is always the risk of depreciation as soon as you buy the equipment. However, when you lease a piece of equipment, the use and productivity create revenue without emptying your pockets. Our trucking equipment leasing and financing program works with the equipment suppliers of your choosing. We also provide the fastest application and funding processes and offer the utmost flexibility. Another benefit is that the cost of the leased equipment can qualify for a tax deduction.
We are dedicated to your business’s success and focus on bringing the best financing plans and competitive rates to get the equipment you need. 1st Commercial Credit is a trusted trucking equipment leasing company with more than two decades of experience working with many businesses in the US and Canada. We have helped business owners overcome financial challenges to ensure they continue to deliver quality and keep their customers satisfied. We can finance wreckers, trailers, flatbed tow trucks, utility trucks, freight liners, carrier trucks, and many other truck accessories. The advantages trucking companies will enjoy when choosing our equipment leasing program include: