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Greensboro Invoice Factoring Company
1st Commercial Credit | Greensboro
Over 3,200 clients funded
No Up-Front Fees & No Hidden Fees.
No up font fees to set up
No financial required
Funding in 3-5 days
Rates at
0.69% to 1.59%
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We Lend MORE Than The Bank
1st Commercial Credit | Greensboro
No Up-Front Fees & No Hidden Fees.
Request a quote
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factory icon

$210,000

Valve Importer PO Funding
trucking companies

$100,000

Small Fleet Trucking Company
manufacturing company

$350,000

Industrial Temporary Staffing Agency
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$650,000

Invoice Factoring For Cyber Security Company

A Factoring Company Funding Greensboro, North Carolina

Financing Rates at 0.69% to 1.59%
No Financials or Setup Fees
Customized Rates
Setup in 3 to 5 Days

Access to Funds Through Invoice Factoring Gives You The Ability To Pay Your Suppliers Early

Invoice factoring acts as a type of small business loan that uses company receivables as collateral. Invoice factoring is a financial tool businesses can use to get quick cash on outstanding invoices when they need it and not have to wait 30 to 90 days. This form of financing involves working with a third-party lender, a factoring company in Greensboro in this case, that will buy outstanding accounts receivable. This form of financing is an asset-based lending program where a company's accounts receivable acts as collateral.

Factoring companies will charge businesses factoring fees for each transaction and may buy accounts receivable at discounted rates. The process of invoice factoring is a quick and easy way to access cash in advance.

 

Invoice factoring gives you more control.

With factoring, you determine which invoices you will sell to the factoring company and when based on their cash flow needs. You are in total control and are also aware of the cost ahead of time and can factor it into their pricing.  

 

Technology is making invoice factoring paperless.

Back in the day, copies of invoices needed to be submitted to and verified by the factor, which was a labor-intensive process. Today the increasing use and advancements in technology such as e-payment and e-invoicing make factoring easier and faster. Online portals make it easy for a factor to access and confirm invoices.

Other benefits of invoice factoring: 

  • Improved Cash Flow and Working Capital - invoice factoring provides immediate cash you can use to achieve your business goals. No more waiting weeks or months to get paid on your invoices.
  • Take Advantage of Opportunities - release the cash tied to your unpaid invoices and take advantage of growth opportunities, including marketing initiatives, expansion, securing new accounts, buying additional inventory, and many more.
  • An alternative to Traditional Loans or Borrowing - Many lenders turn down small and medium-sized businesses, especially newly established companies. Factoring gives you access to the working capital your business needs when other forms of financing won't.
  • Reduced Operating Expenses - use the money from AR financing to qualify for supplier discounts and eliminate the overhead of the collection process.
  • Improve or Strengthen your Credit - with cash available, you can quickly pay for bills, fund payroll, taxes, and even pay off some debt you may have acquired in the past. 
  • No Report on Balance Sheet - because factoring is not a traditional bank loan, it will not appear on your balance sheet. 
  • Valuable Extra Services Included - in addition to improving your cash flow, 1st Commercial Credit offers professional bookkeeping, customer credit checks, and collection services.

Payroll Funding: 4 Reasons Why Your Staffing Agency In Greensboro, North Carolina (NC) Could Need It

The staffing agency has to provide capital to fund payroll, pay for training, and cover other operational costs associated with the business. All these costs need to be taken care of before the client even pays the staffing agency. This situation often creates cash flow issues for the staffing company. They are expected to do all this before invoicing and receiving payment which sometimes can take weeks or months to arrive.

Bank loans might seem like the only funding option. But the reality is that a small staffing agency owner can't always qualify for that option. A bank loan usually takes a long time to process, even for an established business with an excellent credit score, before allowing you to access the funds. Payroll funding is vital to companies in the staffing 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 this industry in Greensboro for many years and can offer lending solutions for staffing companies. With factoring, your business will have immediate access to the working capital needed to cover business expenses. 

accounts receivable loans for staffing agencies in Greensboro, North Carolina (NC)

Factoring is a steady form of obtaining cash. It can be a short-term or long-term solution depending on your Greensboro business needs and your invoice management. 1st Commercial Credit offers the utmost flexibility by letting you choose and pick the invoice or invoices you want to sell. We also provide access to invoices and reports through our secure online platform 24/7. 

There are many reasons why 1st Commercial Credit stands out from all other financial institutions in Greensboro. Once your staffing firm is established with us, you can begin borrowing money for your staffing agency and have access to some of the key benefits, including:

  1. Pay employees on time
  2. Sufficient funds for recruiting
  3. Investing in training programs
  4. Ability to deal with employee turnover
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Why Manufacturing Facilities That Need To Offer Credit Terms To Clients Come To Us?

Most manufacturing companies need some form of financing to grow and cover regular expenses, such as equipment leases, raw material suppliers, rent, and staffing costs. These expenses add up quickly and have pressing due dates. However, the revenues often come slowly because most clients ask for payment terms ranging from 30 to 90 days.

 

Receivable factoring in the manufacturing industry is popular because it allows any manufacturing facility to secure financing, regardless of its size or years in operation.

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Payment terms decrease cash flow.

Offering payment terms to customers is expected in the manufacturing industry in Greensboro. The issue comes when many manufacturing companies don’t have the resources to provide payment terms. As a result, manufacturing companies can often run into cash flow issues. Ultimately, these problems can grow to the point where they can affect and threaten the future of the business.

Finance your invoices

When the manufacturer offers terms that it can’t afford to offer, financing will be needed. Convincing clients to pay sooner is challenging, but a safe alternative is to finance invoices. This financial solution provides you with immediate funding, solving your cash flow issues. 

Lending companies for staffing agencies in Greensboro, North Carolina (NC)

Invoice financing involves partnering your business with a factoring company that can finance your invoices from sales to creditworthy customers. When products or services are delivered, the factoring company provides you with a cash advance. The transaction is completed once your client pays the invoice in full, on their regular schedule.

A significant advantage of invoice financing is that it allows you to offer payment terms of net-30, 60, or even 90 days while helping you avoid cash flow problems. However, the most crucial benefit of invoice financing is its flexibility to adapt to your growing business.

This financial flexibility involves a credit line that increases as your sales increase. You will be able to finance your business’ growth by taking on new customers, hiring employees, and expanding facilities.

Qualifying for invoice financing is considerably easier than qualifying for a line of credit or traditional business loan. The credit status of your customers is critical because the factor uses your receivables as collateral. These requirements make it possible for many small and mid-sized manufacturing companies to qualify for this financial solution. Invoice financing is the perfect alternative for manufacturing companies with cash flow problems arising from slow-paying customers and needing immediate funding.

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Economy Of Greensboro

Greensboro's economic transformation is continuously underway and accelerating. In 20 years, Greensboro-High Point has grown in knowledge and technology-based industries like life sciences, aerospace, and advanced materials.


Greensboro-High Point is a region outpacing the nation in job growth in biomedical, aerospace, and advanced manufacturing sectors. In addition, Greensboro-High Point's health care and supply chain logistics industries employ thousands. Significant employers include international companies like HAECO and Ralph Lauren to Qorvo, and Honda Aircraft Co.  

Greensboro has 100,000+ manufacturing workers, 15,000+ aerospace and aviation workers, and 3,000 people employed in visual arts, music, and theater. Also, more than 5,000 employees have degrees and certificates in life science and healthcare-related fields.

What Is Greensboro Known For? 

Greensboro has affordable living, a booming arts scene, mild weather, Southern hospitality, and incredible local restaurants. "The Gate City" is located in the middle of North Carolina allowing for quick access to the Research Triangle and Piedmont Triad.


Greensboro's great weather and abundance of free outdoor parks, trails, and lakes make it an excellent place for budget-friendly fun. The city ranks high as one of America's top-up-and-coming cities for jobs in the nation. The Gate City is headquarters to several nationally recognized companies, including Mack Trucks, The Fresh Market, and Wrangler. Top employers in the region include Qorvo, VF Corporation, Guilford County Schools, and The Moses H. Cone Memorial Hospital.

In terms of education, the city is home to five colleges and universities. Some of these are the University of North Carolina Greensboro, North Carolina Agricultural and Technical State University, and Bennett College.

1st Commercial Credit is a company factoring receivables for North Carolina and various cities including: