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.
Factoring companies in New York state specialize in converting invoices sold on credit terms for immediate working capital at a discount. It has become a fast, simple, and easy way to gain healthy business cash flow. Compared to a traditional loan, companies that factor in receivables have a more accessible and quicker approval process. 1st Commercial Credit will evaluate a company's receivables and make a prompt funding approval decision. The documentation requirements are short and straightforward, and the main requirement is that a company has invoices for orders that have been delivered. If a business has creditworthy customers, has been in operations, meets revenue requirements, and is free of liens or legal issues, approval is likelier.
If you need to enhance your business' cash flow but would like to avoid dealing with banks and other traditional forms of financing to avoid taking on extra debt or pledging collateral assets, then financing accounts receivable is the solution. 1st Commercial Credit provides flexible funding. Businesses can use their outstanding invoices as security to get immediate cash within 24 hours instead of waiting for 30-90 days or more to receive payment from customers. This financing solution will transform your business without having to rely only on banks.
Accounts receivable funding is a flexible way to ensure your company in New York City has the capital it needs to run operations and expand. Suppose you have invoiced other companies and are waiting for payment. In that case, this is effectively usable credit, and it gets rid of the time-consuming and complicated processes, high interest, and collateral demands involved with banks.
With this quick and flexible form of finance, businesses in the big apple can meet many of their funding needs, including significant investments, payroll funding, and bills.
The invoice factoring process looks like this:
Accounts receivable funding offers an excellent solution for startups, small and medium-sized businesses that need working capital to keep growing. Companies that don't qualify for other traditional forms of lending because of low credit, lack of collateral, or not a long time in the industry can still benefit from our financing services. 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:
If your business is in a situation where cash flow is being affected and needs immediate financing, don't hesitate and contact us for an evaluation and quote today. 1st Commercial Credit provides solutions to business owners every day. Our team of experts will answer any concerns and questions you may have to help you decide if factor receivables could be a good fit for your business goals and needs.
Waiting a long time to receive payment is something common and expected in the healthcare industry. You could benefit from being paid “sooner” with our medical account receivable financing if slow-payers are hurting your cash flow. Many medical companies benefit from factoring healthcare receivables. 1st Commercial Credit works with clients to structure customized and flexible financing arrangements to help healthcare businesses as they routinely experience slow-paying customers and accumulating expenses.
Our factoring services offer a fast and straightforward solution to obtain working capital for your medical company in New York City. With access to sufficient funds, you can have the ability to hire new employees, open new locations and expand your business. Medical factoring is a financing option that allows businesses to grow without worrying about cash flow shortages. We have been working with the healthcare industry in New York City for more than two decades and offer competitive and accessible invoice factoring rates. Medical receivables financing is beneficial to maintain a positive cash flow when their customers take several weeks or months to pay for their services.
As the owner of a packaging business, you are committed to providing the highest quality and service, and packaging equipment is required. Your clients rely on your business to help them present their products to their customers, and the right packaging equipment finance program will help you exceed expectations. Business owners need the latest equipment and technology to deliver the best packaging, but coming up with sufficient cash to purchase new machinery can deplete your profits. Instead, you can turn to packaging equipment loans to keep your business competitive without affecting your cash flow.
It’s not always easy to find cash or qualify for a loan to purchase everything you need. Packaging equipment financing gives you the option to get the right combination of equipment without having to deal with the bank. Many New York City companies enjoy the many benefits of packaging equipment leasing. We help businesses fulfill every package and specialize in providing working capital to packaging and distribution companies needing efficient equipment. We work with medical and pharmaceutical packaging, food and beverage packaging, personal care item packaging, technology packaging, and many other packaging companies.
New York City, also known as "The Big Apple," is one of the most famous cities in the world. This vibrant city is famous for its exclusive shops, flashy Broadway performances, and high-flying business tycoons. NYC continues to be a city that captivates people from all over the world. This city is also home to the Statue of Liberty, a symbol of freedom and hope, and Central Park, an incredibly large park with lots of green located right in the middle of the city.
New York City is the economic capital of the world and the most influential market in the United States as companies all around the nation and the world have made their headquarters or significant operation centers right in this city. Nearly all these key industries have large office complexes and facilities, employing millions of workers in the area. New York state alone would be the 15th largest economy if it were a separate country, and much of that wealth and economic activity is centered in the NYC metro area.
Top industries in New York City: