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A Factoring Company Funding Omaha, Nebraska
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.
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What Are The Different Benefits Of Working With A Factoring Company In Omaha
Factoring companies in Nebraska can help give you access to the funds your Omaha business needs to grow and continue operating. 1st Commercial Credit is an experienced accounts receivable financing company in Nebraska that helps businesses quickly secure the working capital they need through our invoice lending services. For many companies in specific industries, slow-paying customers can cause cash flow shortages resulting in late payments, inability to cover payroll, or making it difficult to purchase new equipment needed to run a business effectively. If you find your business is in a similar situation, accounts receivable factoring companies in Nebraska can help you improve cash flow without adding debt to your balance sheet. 1st Commercial Credit knows that each business has unique needs and goals. Our team will take the time to assess and understand your needs and find the right financing program to meet your needs.
1st Commercial Credit offers various supply chain solutions for companies looking for alternative financing. Our financing rates are highly competitive and fully customized to your specific needs. In addition, we don't ask for any financials or upfront fees and have made the application and funding processes so simple it takes 3 to 5 days to receive the funds. Factors use the value of outstanding accounts receivable to collateralize lending arrangements and provide immediate cash advances to business owners.
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1st Commercial Credit makes approval decisions based on the creditworthiness and reliability of the customers owing money to a company. It is considerably easier to be approved for these types of loans and credit lines than any traditional form of financing.
What Makes 1st Commercial Credit The Best Lending Partner?
- Over 18 years of experience
- Fast and straightforward qualification requirements
- Affordable and competitive rates
- The opportunity to get funds today
- Expertise in many industries
Some benefits of working with a factoring company instead of a traditional lender include:
- Continue serving clients. You will continue running business operations as usual, and when you get invoices from creditworthy customers, you can send them to the factoring company for financing.
- Fast approvals. Unlike traditional banks, applicants are approved within 3 to 5 business days. Once approved, funding can be received within 24 hours. The paperwork process is short and straightforward, and no credit checks are needed.
- Quick cash. You receive immediate payment in cash after delivering the goods/services and invoicing a customer.
- No debt acquired. Factoring is the sale of invoices (assets), not a loan, so there’s nothing to repay. Factoring is a good financing alternative for businesses that do not qualify for traditional financing or do not want to incur extra debt.
- Eliminates collection efforts. Most factoring is "nonrecourse," meaning that the lender purchases all rights in the invoices, and the seller has no responsibilities for collection.
- A constant source of cash flow. Invoice factoring gives your business total control of its finances by giving you a reliable and continuous cash flow.
- Releases stress. With sufficient funds, business owners won’t have to stress or worry about not making payroll, paying bills on time, or having the money to pay for repairs or equipment.
- No long-term commitments/contracts. Factoring gives business owners the flexibility to decide which invoices they want to factor in and for how long. There are no minimum volume requirements, and your funding ability grows along with your sales.
Factoring Made Easy For Agribusinesses In Omaha (NE)
1st Commercial Credit understands that agriculture is an expensive and complex industry. Many moving parts are involved and working together to grow and deliver fresh produce and farm food to the end destination. From farming, harvesting equipment, shipping, and much more, there are numerous factors that agribusinesses rely on.
For example, one specific produce can be grown in one part of the country and purchased at a local market in another area. This is why farming requires reliable and consistent working capital to make all this a smooth process.
Farming and agriculture have difficulty finding financing, as this sector often deals with slim margins and seasonal business. Yet, agribusinesses absolutely need funding to run operations smoothly. Another reason why factoring is also the best financing alternative for agribusinesses is that banks don’t typically approve loans for these businesses due to the risk factor. Even though it is complex to finance agribusinesses with governmental regulations and laws, including PACA, factoring companies are willing to provide financing solutions.
The great news is that accounts receivable financing helps these businesses receive the capital they need to operate and grow. If you are thinking about agricultural factoring for your business, take a look at a few benefits below.
- A quick source of cash: For the agriculture business, expediency is critical. Delivering produce on time is vital to ensure that it remains fresh and doesn’t perish. With agriculture financing, you can get the cash you need fast. Accounts receivable financing is known for its quick and simple processes. The entire application process can be completed in a few hours, and you can receive the funds within 24 hours after approval.
- Means to meet payroll needs: Through our financing services, you can receive the money you need to make sure your business can pay employees while having to pay you growers, suppliers, shippers, etc.
- Replace or get new equipment: Repairing or replacing equipment can be pricey, especially if cash is tight or if you have unstable cash flow.
Agriculture factoring is often a better financing alternative for businesses in the agriculture industry. Not only are farm equipment loans hard to receive, but they also take a long time to process. With factoring, you will receive the cash you need almost immediately. Factoring is the option that many farmers, distributors, and packers are choosing today. With factoring, it’s your customers’ credit history that determines financing, not your FICO score, which banks require.
Agriculture factoring and accounts receivable loans involve a simple process. First, you send your unpaid invoices to 1st Commercial Credit for verification, and then once you’re approved, the factor will purchase your outstanding invoices. You can receive up to 97% of the invoice value within 24 hours. Factoring companies understand the agribusiness world and can help you find the financing you need.
Why Exporters And Manufacturers Use Our Non-Recourse International Receivable Finance Program
1st Commercial Credit helps U.S.-based businesses maintain growth in sales by providing flexible export finance and trade payable financing. As the global economy continues becoming more competitive, U.S. companies must offer better financing terms to their international customers. Our non-recourse international receivable finance program enhances the sales efforts of exporters and manufacturers, allowing them to remain competitive in the global marketplace successfully.
International trade finance consists of financial tools that make it easier for businesses to engage in international trade and commerce and help with cash flow management for global trade. Trade financing helps eliminate the risks of international trade by providing suppliers and buyers protection against several situations, including currency fluctuations, non-payment, and political instability. This financial solution can be recourse or non-recourse. Both trade financing options are used, but the best one for you will depend on several factors.
Differences between Recourse and Non-recourse Trade Financing:
- Right to seize assets: The recourse financing option allows lenders to take assets from borrowers used as collateral. In the given case that the borrower can't pay the amount owed and the collateral value is lacking to cover the entire financing amount, other assets will be used to recover their money. On the other hand, with non-recourse financing, the lender's only source of recovery is the borrower's collateral in case of a payment default.
- Flexibility in the structure of the loan: In general, recourse trade financing offers more flexibility in terms of loan structure and pricing. Recourse financing requires complete financial disclosure so the lender can have a more detailed picture of the financials. This allows the lender to customize the financing agreement according to the borrower's specific needs and goals.
- Collateral Limitations: Non-recourse lenders often impose several restrictions on the type of collateral for a loan as it is their only security if non-payment occurs. These restrictions will vary from lender to lender and depend on several factors.
- Relationship between the borrower and lender: Recourse financing is relationship-based, while non-recourse financing is a more strict, transaction-based option.
Advantages of Non-Recourse Trade Finance
- Non-recourse financing doesn't allow lenders to take possession of the borrower's non-collateral assets, giving more security to the borrower.
- Protection from exchange rate fluctuations for exporters.
- Certainty of payment, no worries on future claims or non-payment.
Advantages of Recourse Trade Finance
- It offers more flexibility in pricing and the possibility to change terms of financing during the term.
- Interest payments are typically lower than non-recourse financing options.
- From a lender's point of view, recourse financing is more secure as the lender has the right to seize assets beyond the collateral if the borrower defaults payment.
In order to secure a non-recourse trade finance agreement, a significant portion of the risk will fall on the lender when using non-recourse trade financing. Non-recourse financing is, hence, more difficult to obtain. Lenders focus on the following factors before approving a non-recourse trade financing agreement:
- Earning potential and history of the borrower's loan collateral.
- Credit scores.
- Liquidity and profitability metrics of the borrower.
- Management's credentials.
Need Funding For Your Company In Omaha, Nebraska?
Is Your Cable And Telecommunication Business In Omaha Facing Cash Flow Issues?
1st Commercial Credit has extensive experience dealing with the cable and telecom industry in Omaha. Factors need to understand the methods of payment used in this sector to make the funding process smooth and efficient. 1st Commercial Credit has provided account receivable financing solutions and telecom financing to cable and telecommunication businesses for over 18 years. We make the application and funding process quick and straightforward. After a company qualifies, the whole process can be done in a few working days, including receiving the funds.
We can help you manage the frequent swings in cash flow by getting you your money now, not waiting 30, 60, or 90 days. Your suppliers can get paid quickly so that business owners can negotiate the best pricing. In many instances, the ability to qualify for discounts and get better pricing has made up for the cost of factoring. Telecom factoring provides businesses with a cash flow solution that turns a company's outstanding invoices into immediate cash. The process involves selling your receivables to a factoring company in exchange for immediate payment which will help eliminate the cash-flow gap caused by slow-paying customers.
Telecom factoring is a reliable and accessible debt-free form of financing providing fast cash to fulfill business expenses, meet payroll, cover bills, and invest in new opportunities. If your business has to deal with slow-paying customers constantly and extended credit terms, factoring is the answer. A factor specializes in buying a business's accounts receivable and advances the cash in exchange for those invoices. We work hard to ensure your telecom business receives the lowest rates and most flexible terms. We can also offer purchase order finance for qualifying businesses.
Telecom factoring offers a financial solution to many businesses in this sector, including:
- Cable TV Installer/contractor
- Satellite Dish Installers
- Underground Utilities
- Cable Testing/Diagnostics
- Telecommunication Installers & Providers
Telecom and cable contractors benefit directly from the cash flow given by factoring but also from other value-added services that come with this service.
Credit and background checks for current and potential customers and online reporting are just some of the extra benefits that give clients the peace of mind to focus on other aspects of their business.
Typical cash flow issues our cable and telecom customers have:
- Trouble fulfilling payroll each week
- Not sufficient cash to fuel growth
- Can't take on new contracts or keep usual customers
- Can't apply to material discounts
- Big jobs drain all available cash
Unfortunately, cash flow issues can prevent a manufacturing company from making crucial and necessary upgrades such as purchasing equipment, hiring experienced professionals, or completing projects on time. 1st Commercial Credit manufacturing financing services can help resolve all of these issues. Our factoring programs can be used for short-term funding to resolve unexpected cash flow problems or for a longer-term, allowing flexibility to choose the best arrangement for your company.
What Is Omaha Known For?
Omaha guarantees a well-rounded itinerary to all its visitors. Omaha is home to an extensive collection of museums celebrating creativity, diversity, and history. These museums include the Joslyn Art Museum, the Great Plains Black History, and the Durham Museum. There are plenty of historical attractions like the Lewis and Clark National Historic Trail Headquarters and Visitor Center. For the nightlife, the Old Market will offer an unforgettable night out. All the cobblestone streets lined with galleries, shops, breweries, and restaurants make Omaha an exceptional location to visit.
Economy Of Omaha
The economy of Omaha has served as a central commercial hub in the Midwestern region. Also known as the "Motor Mouth City," Omaha is widely regarded as the telecommunications capital in the United States. The city's key industries include agriculture, food processing, insurance, healthcare, transportation, and education.
