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, but 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 and not having to wait 30, 45, or 60 days. With sufficient access to cash flow, you will be able to 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.
Many businesses we fund have exhausted their efforts with the bank leaving them with a cash flow deficiency and even adding extra debt to their business. As mentioned before, in exchange for a small fee, factoring companies will unlock funds tied up in unpaid invoices so that your business can receive the funds without waiting for customers to pay.
This financial solution makes cash flow management easier for the companies that use it. Most factoring providers will offer to handle credit control and take care of some back-office management as extra benefits.
This means that the business no longer needs to chase customers for invoice payment, saving a lot of admin time. 1st Commercial Credit is an experienced lending company thriving to provide the best financial services to businesses in Texas with competitive and accessible invoice financing rates between 0.69% to 1.59%.
The trucking industry 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 also plenty of ways for moving people, including Transit Systems and Passenger Rail, Aviation, Marine Ports, and the Intracoastal Waterways.
1st Commercial Credit is a trucking and freight factoring company that services all transportation-related industries in the USA. Selling your trucking receivables to a factoring company will allow your business to improve its cash flow and grow. Fleet owners, owner-operators, and brokers can all benefit from our freight factoring program.
Some of the key benefits of trucking invoice factoring include the following:
Free online credit checks — For current and future customers to know if they are creditworthy. The trucking sector involves plenty of hard work not to get paid for a delivered load; it’s just not feasible and not worth the risk. This is why 1st Commercial Credit runs this credit check service for trucking businesses to give you the most reliable results to run with confidence.
Fuel Discounts — Fuel is a significant expense for the trucking industry. To keep trucks moving, drivers need fuel which can be expensive after driving for many miles. With our fuel discount program, drivers can save money per gallon and access many other benefits and features.
Fuel Advances — A fuel advance is a financing option that provides funding to cover fuel expenses when a load is picked up. This option can be ideal for small and growing trucking companies that need funds to take on more loads and grow. A fuel advance can provide factoring clients with up to 40% of the value of your freight bill. This advance is fast and can be received within hours of making the funding request. We need to verify some documentation confirming that the load has been booked and picked up to send the advance. Once the load is verified, funds can be sent to your bank account via a direct deposit or loaded onto a fuel card.
We also have invested in invoicing software that helps your drivers upload images of the bills and invoices to make it a smoother process for them.
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.
1st Commercial Credit has been involved in trucking factoring for its entire history. We have 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 requiring cash on hand that transportation companies in Texas commonly face include maintenance, permits, equipment, and 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.
When businesses in Texas turn to our accounts receivables funding, 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.
You ought to be able to expand your business without worrying about a shortage of operating cash. A Texas factoring company will offer receivable finance alternatives that give instant cash when companies need it the most.
Many expanding firms are compelled to decline contracts and clients due to a shortage of working capital. This scenario has arisen as a result of extending payment terms to clients resulting in invoices being paid 30 to 90 days after the services or products are provided.
The factoring solution is selling outstanding receivables to a factoring business in exchange for an invoice loan. This form of financing will provide you with cash in return for those outstanding bills. Assume your Texas firm is now experiencing cash flow problems. In that situation, an accounts receivable factoring firm is the best option for funding.
After completing a 2-page online form, 1st Commercial Credit will analyze your company's situation. This procedure might take 3 to 5 business days. If your firm is accepted for receivable finance, the funds will be available in your business account within 24 hours.
A successful business owner invests significant time in developing his professional network to include as many cash flow lenders as possible. However, few of those businesses will be as valuable as 1st Commercial Credit. We are not a financial institution. We are a firm that lends money based on the value of your past-due invoices. Our approach ensures that you only use cash that you have on hand and that you never fall further into debt with your bank.
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 our 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 provide financial solutions and fund staffing agencies.
Equipment financing allows businesses to obtain the much-needed upgraded equipment or technology to serve their customers with manageable payment options. 1st Commercial Credit is a specialized lender that offers small business equipment loans and leases to help them secure the assets to expand their operations. We have made the process simple with a short application, flexible terms, and loan or lease options. 1stCC offers tailored equipment financing programs to meet your business’s unique needs and provides outstanding customer service to ensure you have the best financing experience. Using equipment financing will ensure you have enough cash flow to grow your business and take advantage of unexpected opportunities, including:
If you need equipment for your business and want to take advantage of the best financing solutions in the market, contact 1st Commercial Credit to learn more about our financing services. Business owners can also use our equipment lease calculator to insert their credit score range and the amount they’re looking to finance to obtain a quote.
The process to apply for equipment financing with 1stCC:
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 the Texas 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.