1st Commercial Credit offers flexible funding on accounts receivable and invoice financing for New Jersey businesses.
With 1st Commercial Credit, the financing process takes 3-5 days to receive the funds your business needs. A company can get an account set up and receive funding with our accounts receivable financing program. Once approved, we can fund the invoices and advance the funds in 24 hours or less.
1st Commercial Credit strives to make receivable financing easy to obtain with minimal paperwork. Approval decisions are not based on tax returns, financials, or equity to debt ratios. We make decisions primarily on the credit strength of your customer and the invoicing process. We specialize in evaluating a company's receivables and can make a prompt decision within a day. 1st Commercial Credit can put fast cash in your hands immediately and without making you go through a long and tedious process
We fund small, medium, and large companies daily and customers can enjoy the possibility of growth after setting up a factoring agreement with 1st Commercial Credit. AR factoring provides many benefits that can help you efficiently run operations and make your money go further. Invoice factoring is a financial solution and a safe alternative to bank loans for growing businesses. We are committed to business owners and their businesses in helping their businesses succeed. 1st Commercial Credit has over 18 years of expertise assisting every industry in New Jersey and can evaluate your cash flow situation today.
Receivable factoring services allow businesses to offer credit terms to their customers without running into cash flow shortages. 1st Commercial Credit specializes in providing the best supply chain finance solutions to all industries. Our process is quick and straightforward. We make same-day decisions, offer flexible approvals, customized rates, and accept low credit scores.
Factoring Process with 1st Commercial Credit:
1st Commercial Credit's invoice factoring and accounts receivable lines of credit provide the best flexibility needed to enhance your New Jersey company's capacity to grow without having to pledge collateral. We base our approval decision on your customer's financial strength, not your company's. Crucial suppliers need to get paid, customers require longer credit terms, and 1st Commercial Credit can help make that happen.
We provide financing solutions to many industries in New Jersey. Staffing agencies receive quick funding along with manufacturers, distributors, medical providers, and many others.
The manufacturing industry is an indispensable and valuable contributor to the American economy. It is also an industry that often struggles with extended payment terms and slow-paying customers. 1st Commercial Credit has extensive experience working with the manufacturing industry in New Jersey and is familiar with the financial struggles it faces.
We can provide finance solutions like accounts receivable lending and quick initial funding for manufacturing businesses looking to pay back their invoices. Typically, a manufacturer will produce a product for a buyer. The manufacturer has to provide capital for supplies, materials, equipment, payroll, and the actual cost of production before actually receiving payment for the product. This situation creates cash flow issues for the manufacturer.
A small business owner can't always qualify for a bank loan. Another downfall is that bank loans often can take a long time to process before allowing access to the funds. Factoring is vital to companies in the manufacturing industry because it involves an achievable, fast and straightforward process. You can apply and receive funds all in 3 to 5 business days.
1st Commercial Credit has worked with manufacturers in New Jersey for many years. With factoring, your business will have fast access to the working capital needed to cover business expenses. Our clients use this money for whatever they choose, including buying equipment, replacing machinery, and securing materials.
Factoring is a steady form of obtaining cash. It can be a short-term or long-term solution depending on your New Jersey business needs and invoice management. You also will have the flexibility to choose which invoices you want to send to 1st Commercial Credit. Your business will also enjoy access to invoices and reports through our secure online platform 24/7. We also provide extra benefits and services free of charge, like credit checks on potential or existing customers and collections.
A factoring company (or accounts receivable factoring) converts invoices sold on credit terms to 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 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.
Freight factoring companies help trucking businesses in New Jersey manage cash flow issues while sustaining and growing business operations.
Freight hauling is a vital component of the nation’s supply chain, but keeping trucks on the road to make the crucial deliveries comes with some unique challenges. As a transportation manager, owner, or operator in the trucking industry, you will face fluctuating operating expenses and slow payment cycles that can lead to funding insufficiency. Freight factoring companies like 1st Commercial Credit help trucking businesses manage these issues while continuing operations.
Some key benefits of freight factoring for trucking companies in New Jersey include:
Unlimited and immediate source of funds: 1st Commercial Credit will adapt and fulfill your business needs. We do not have a fixed credit line because sales cycles can vary throughout the year, causing cash flow to fluctuate. With us, as your sales increase, so can your access to working capital.
Quick and efficient funding process: We are familiar with the hardship and complications of traditional bank lending. That is why we have made our application and funding process simple. The paperwork requirements are minimal, and our goal is to evaluate your situation as quickly as possible so we can immediately give an answer and provide you the financial tools your business needs to continue growing.
Available cash for growth opportunities: Your business will no longer have to turn down contracts due to a lack of money when you have access to reliable and immediate funds with 1st Commercial Credit. Growing sales shouldn't be giving you a hard time and depleting your cash reserve, and we can help make sure that doesn't happen.
Financial safety net and flexibility: Running a business involves having unexpected expenses come up that need to be taken care of immediately. It can be difficult if your business doesn't have a good cash flow to recover from these unexpected expenses. Freight factoring will provide access to funds so you can take care of unforeseen situations and continue successfully running your business.
Low credit score approved: A factoring company understands things do not always go according to plans, and financial hardship can come at any time for a company. 1stCC funds companies with poor or unestablished credit. Whether you are a business owner just starting or who has encountered previous financial struggle, you can still be approved for our factoring program—no need to pledge collateral or pay an insanely high-interest rate.
No monthly fixed amounts: There isn't an established monthly minimum or maximum with us. You will not have to set a given dollar amount for each month. Once a factoring agreement is established, we will factor in just what your business needs to maintain a healthy cash flow and continue running business operations.
Collections and billing support: You will experience other extra benefits that banks cannot offer with invoice factoring. Time is valuable and especially when trying to grow and expand a business. We want to make sure your time is spent strategizing on your business, so once you begin factoring receivables with 1st Commercial Credit, we will take care of collections and running credit checks on your current and prospective clients.
More and more companies and startups in New Jersey are uncovering the advantages of invoice factoring. Factoring invoices allow businesses to sell their outstanding invoices to a factoring company like 1st Commercial Credit to obtain immediate cash. Factoring companies specialize in helping business owners cut down the wait time on payments.