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.
Invoice factoring, commonly known as accounts receivable factoring, is a debt-free financing solution used by businesses in Yonkers that want to take control of their finances. Instead of waiting weeks or months for customer payment, invoice factoring companies immediately pay you for your open invoices. Although the process is relatively simple, many business owners benefit a lot from a short explanation of how factoring works and how to begin, as it helps them make a more informed decision. In summary, the factoring process involves 3 main steps:
When all this happens, the factoring company will collect directly from your customers. Once full payment is received, the remaining percentage of the invoice is sent back to you, minus a factoring fee. There are many companies offering factoring to New York businesses, but you want to be sure to find one that is right for your business needs.
Be sure to have these items in mind when selecting a factoring company in Yonkers.
Companies in various situations turn to invoice factoring. Ultimately, everyone's goal with invoice factoring is to improve cash flow. Whether your company can't afford to wait for customer payment or a bank turned you down, invoice factoring will help you take control of your business finances, so you have the cash at hand to operate and grow. If you could use cash for your company sooner than your invoices are being paid, 1st Commercial Credit can help. We are among the top factoring companies in the nation for financing companies with competitive accounts receivable financing rates.
For more than 18 years, we've helped companies operate and grow. If you want to learn more about our services or want to get started today, contact 1st Commercial Credit for a free, no-obligation factoring consultation and quote.
Our funding provides financing for various healthcare companies, including physicians, dentists, x-ray technicians, pharmacy technicians, speech therapists, respiratory therapists, dialysis technicians, medical laboratory technicians, and many more.
We make financing fast and straightforward. When your cash availability is affected by slow-paying customers, it can be challenging to have sufficient funds to meet ongoing financial obligations. 1st Commercial Credit looks at your qualifying invoices as collateral and is ready to advance the money you need to operate your business. We also provide purchase order funding for companies looking for this service.
1st Commercial Credit is a Yonkers lending company providing payroll funding for staffing agencies and other recruiting agencies. The services offered by staffing companies are crucial to bringing employees and employers together. In this industry, payroll remains the responsibility of the staffing firm, which needs to be fulfilled before clients pay. This situation can cause some financial challenges if clients have extended payment terms for the services.
When cash flow is tight, a payroll funding company can help by providing various financial solutions. On some occasions, clients can take 30 to 90 days or more before paying you, but payroll is still due each period. The overall costs of running a successful operation can affect your business and put you in a difficult situation financially. 1st Commercial Credit offers payroll solutions so you can continue running your company while taking advantage of many other opportunities.
We provide invoice factoring for staffing agencies in Yonkers and purchase their outstanding invoices for fast cash—without having to wait weeks or months for payments when you can have fast cash today. When you partner up with 1st Commercial Credit and assign an agreement, you will receive a cash advance for your qualifying invoices. This advance is different depending on the industry. The factor will keep a small percentage of the total invoice value, considered the factoring fee.
Desirable Place to Live- Yonkers’ Downtown Waterfront district continues expanding, with hundreds of new luxury high-rise apartments offering fantastic views of the Hudson River and Palisades, shops, gourmet restaurants, parks, and a short 25-minute train ride to midtown Manhattan. The city is home to cultural sites such as the Hudson River Museum, prestigious colleges such as Sarah Lawrence, shopping centers, entertainment venues like Empire City Casino, and beautiful parks.
Livable- Unlike many other cities in New York State and the Northeast, Yonkers is growing. That’s because Yonkers is home to some of the best schools in the area, such as Yonkers Middle High School and PEARLS Hawthorne School. In addition, Yonkers is among the safest cities in the country. Yonkers also offers many beautiful and historic neighborhoods, luxury waterfront living, and housing for all incomes.
Workable- Another plus of Yonkers is that it offers many work opportunities. Yonkers is Westchester’s retail center. The Central Park Avenue corridor, the Cross County Shopping Center, the upscale Ridge Hill shopping complex, big box stores, and many local small businesses can all be found in the city. The city has a large inventory of industrial, commercial, medical, and new-economy spaces. Yonkers also has one of the area’s most prominent office parks, two hospitals, 40 public schools, and several neighborhood shopping districts.
Yonkers, NY, has more than 200,000 people with a median age of 39 and a median household income of $63,849. Yonkers is home to some prestigious educational institutions in NY, including Sarah Lawrence College, Cochran School of Nursing, and Saint Vladimir's Orthodox Theological Seminary. Most Yonkers residents drive to work, and the average commute time was 34 minutes. The economy of Yonkers, NY, employs 96.1k workers. The largest sectors in Yonkers are Health Care & Social Assistance, Retail Trade, and Educational Services. The highest paying industries are Utilities, Information, and Public Administration. In addition, the most common jobs held by residents of Yonkers are Office & Administrative Support Occupations, Sales & Related Occupations, and Management Occupations.