As a Texas factoring company with extensive experience in all major industries in the state, 1st Commercial Credit can offer a broad selection of financial solutions for your small, medium, and large-sized business in Texas.
Even the most successful businesses face cash flow issues every day. Not all pending invoices will be paid on time, and business operations need to continue running, and financial responsibilities need to be covered. We can help you manage the shortages and swings in cash flow by getting your money now, not waiting 30, 45, or 60 days. You can pay suppliers and continue to offer credit terms to clients.
1st Commercial Credit understands your business needs and the Texas economy. We can provide quick funding after a short evaluation and approval process.
Invoice factoring is an optimal financial solution for companies to improve cash flow and increase growth opportunities. No debt is incurred, and businesses don't need to wait long periods for payments. Using your pending invoices and exchanging them for capital is an immediate and effective financial solution.
1st Commercial Credit is one of the largest independent providers of asset-based financial services for small to mid-sized businesses. We provide a complete line of invoice factoring services to Texas businesses, including inventory finance, purchase order financing, international trade finance, supply chain finance, short-term future receivable funding, and other related financial services.
We offer to fund a wide range of industries and flexible funding requirements that most businesses can easily qualify for. With 1st Commercial Credit, small businesses can be eligible with as little as $10 thousand a month in sales. Also, those companies that need up to $10 million in working capital can be suitable for asset-based financing.
1st Commercial Credit can provide working capital and financing for all businesses in Texas. Here are a few industries we have recently funded:
Staffing Agencies — When funds take 30 to 90 days to arrive, staffing agencies might struggle to make weekly payroll. Payroll finance for staffing agencies provides businesses with the operating capital they need to satisfy payroll commitments while also growing. At 1st Commercial Credit, we factor invoices and fund staffing agencies.
Manufacturing — A factoring structure provides more than simply instant cash flow. There are several benefits to utilizing this type of financing for your manufacturing firm such as no monthly minimums or maximums, not being tied to long-term contracts, advantages on early payments, saving time and money. 1st Commercial Credit finance manufacturing companies to help them with cash flow issues.
Construction — Construction factoring is a different type of finance for your cash flow issues. Clients' slow payments are common in the construction business. These unpaid invoices may lead your company to discontinue accepting new, larger projects.
Trucking is essential to a state's economy, especially in a large and fast-growing state like Texas. With the projection that Texas could double its population by 2050, the state will need a significant expansion and improvement of the transportation infrastructure, roads, airports, marine ports, waterways, and rail lines.
Some of the main areas of transportation in Texas include Freight Rail for moving goods. There are Transit Systems and Passenger Rail, Aviation, Marine Ports, and the Intracoastal Waterways for people's movement.
1st Commercial Credit is a trucking and freight factoring company that services all transportation-related industries in the USA. Services include Free Online Credit Checks, Fuel Discounts, and Fuel Advances.
We also have invested in software that helps your drivers upload images of the bills and invoices to make it a smoother process for them.
1st Commercial Credit has been involved in trucking factoring for its entire history. It has a comprehensive understanding of what it takes to keep the rigs on the road and the freight moving from the loading dock to the customer's destination.
Some of the common issues transportation companies in Texas face include maintenance, permits, equipment, payroll, to mention a few. It is very challenging to continue running a growing business when invoices are not paid on time. A trucking factoring company in Texas will provide your business with reliable cash flow so you can meet customer deadlines and continue with operations.
We will utilize our rapid approval process to let you know that your invoice is approved, and you can get back to the job of moving that next load and generating revenue.
A factoring company (or accounts receivable factoring) converts invoices sold on credit terms for 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.
At $1.9 trillion, the Texas economy is the 2nd largest in the United States and the 9th largest economy globally, in front of Canada and South Korea, and just behind Brazil. Texas has become the perfect place to start or relocate a business. Residents and the Lone Star State government are proud of its success and growth and attribute it to the hardworking people of Texas, their economic freedom, infrastructure, and business climate.
Texas is considered a place of growth and opportunity, and many companies have experienced just that. As a result, huge companies such as Dell, Amazon, CBRE, Tesla, HP, and Oracle have moved their operations to Texas, giving a more significant push and strength to Texas’s economy. Approximately 100 of the largest public and private companies in the country are based in Texas, including ExxonMobil and AT&T.
Texas also offers competitive taxes, skilled force work, and a pro-business culture. A couple of the major industries in Texas include natural gas and petroleum, farming, steel, banking, and tourism. The export industry is also booming in Texas, with more than $270 billion a year in exports. Among the rest of the prominent industries in the state are agriculture, aeronautics, computer technology, defense, energy, entertainment, and healthcare.
The state of Texas is top-ranked in terms of employment, income growth, growth forecasts, as well as entrepreneurial opportunities for the next couple of years.