call now 1st Commercial Credit
1 (800) 876 6071
Virginia Beach Invoice Factoring Company
1st Commercial Credit | Virginia Beach
Over 3,600+ clients funded
No up front fees to set up
No financial required
Funding in 3-5 days
Submit Your Unpaid Invoices For Work Completed
Rates at
0.69% to 1.59%
Accredited business BBB logo
We Lend MORE Than The Bank
1st Commercial Credit | Virginia Beach
Submit Your Unpaid Invoices For Work Completed
Request a quote
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Invoice Factoring For Cyber Security Company

A Factoring Company Funding Virginia Beach, Virginia

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

What Are The Top 5 Differences Between Traditional Bank Loans And Alternative Business Funding?

The process of selling receivables to an invoice factoring company in Virginia Beach is different from obtaining a bank loan. The company invoices are sold at a discount in exchange for an amount of cash needed. These invoices will become the property of the factoring company who will collect directly from your customers. The process of collection after a client is invoiced can take anywhere from 30 to 90 days.

The strict requirements to apply for a traditional bank loan are followed by a complicated and time-consuming process. Banks demand a perfect credit history and also ask for business collateral. Suppose a company qualifies for all these requirements. In that case, the final approval and access to cash can still take a few weeks or even several months.

Our receivable financing alternatives give you access to sufficient funding. It has become increasingly challenging to obtain business lending through banks, which has caused small businesses and startups to struggle to find a reliable and consistent funding source to grow their business. An invoice factoring company makes sure you will get the funds needed as long as you can provide accounts receivables invoices to sell. The funding process with many factoring companies is fast and straightforward, and a decision can even be made on the same day.

Our funding decision is not dependent on your creditworthiness. In contrast to bank loans, which will do an extensive assessment of your financial and credit history, a factoring company is more focused on the creditworthiness of your clients and their ability to pay their invoices. Banks often will determine loan rates, terms, and approval on your company’s financial records. 

Another considerable advantage of factoring invoices is that it offers a debt-free funding solution for businesses in Virginia Beach. Often, adding new debt to a small business can be detrimental. Factoring will simplify the process to get the money you need to expand your services and meet payroll without incurring debt with a bank.

Here are 5 main differences when comparing a bank loan to factoring invoices:

  1. No collateral is needed
  2. Fast application and approval process
  3. High probability of approval
  4. Low credit score admitted
  5. Quick cash - enhanced cash flow
Call Now 1 (800) 876 6071Request a quote

Grow Your Advanced Manufacturing Company With Invoice Factoring In Virginia Beach (VA)

Obtaining new clients and contracts is crucial for any manufacturing business as this will result in having access to the resources necessary to grow business operations. Many business opportunities require additional financial resources. Because of this, companies in Virginia Beach need to find the right financial solutions and partners to manage short-term cash flow needs to fund expansions.

Invoice lending arrangements can be particularly beneficial to those businesses that lack collateral or have had financial challenges in the past.

A ‍‍‍‍manufacturing business loan is designed for companies that may not be eligible to qualify for traditional lending arrangements for a variety of reasons, including:

  • Lack of conventional collateral sources
  • Too many outstanding bank loans or lines of credit
  • Little or no credit history
  • Past credit difficulties
financing advanced manufacturing companies in Virginia Beach

Asset-based invoicing businesses can utilize the value of existing accounts receivable to collateralize lending arrangements and offer manufacturers with cash advances. These loans are approved mostly based on the trustworthiness and dependability of the firms who owe money to your organization, rather than your own credit history. As a result, manufacturing companies are often accepted for these loans and lines of credit much more quickly.

Factoring businesses may give much faster response times than banks, which can frequently take weeks or months to make a final decision on a loan or line of credit. Invoice loans require little documentation and are often accepted within a few business days, and in some circumstances, within 24 hours. Companies in Virginia Beach can obtain the materials needed to make their products and deliver on time and in full by taking advantage of these alternative financing options. In this competitive sector, this may also help assure a positive start for new client relationships.

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We Provide Same Day Funding for Your Employee Payroll

1st Commercial Credit is an experienced accounts receivable company in Virginia Beach providing payroll financing for companies in need of payroll funding services. The types of services offered by staffing firms are fundamental and vital to connect employees with employers. In this industry, payroll is the responsibility of the staffing firm. Payroll funding needs to be covered before your firm receives payment from clients, and this can cause some financial difficulties.

When cash flow is tight, a payroll funding company can help by providing financial solutions. Often, clients can take anywhere from 30 to 90 days before paying you, but payroll is still due every week. 1st Commercial Credit offers payroll funding solutions so you can continue running a successful business and take advantage of many other possibilities.

Factoring temp staffing agencies in Virginia Beach

Payroll financing allows a company to sell its outstanding invoices to obtain fast cash to fulfill payroll. Payroll funding services provide the company with fast cash to pay employees or temporary staff on time while waiting for the client to pay the company. It gives companies the ability to meet payroll requirements. We have been providing payroll funding for staffing agencies for more than 18 years. When past unpaid invoices begin to accumulate, you will start to have problems fulfilling your imminent operational obligations. It is always a great idea to start planning and become familiar with the services offered by a trusted and experienced payroll funding company.

We Offer Manufacturers Various Finance Products With Many Benefits

1st Commercial Credit has many years of experience working with the manufacturing industry, which is why we provide various financing services specifically for businesses in this sector. Business owners can lease manufacturing equipment, lease with a purchase option, or outright finance it. The best equipment financing option for your company will depend on different circumstances, including company size, long-term goals, and cash reserves. A member of our team of experts at 1st Commercial Credit can help you figure out which one would work best for you. We have the manufacturing equipment loan and lease options to help you get new machines while keeping precious dollars in your pocket. This is possible with a simple application process and a fast approval time. 

Call Now 1 (800) 876 6071Request a quote

Producing the right products for your customers on time and at the pace they need them requires having the right manufacturing equipment. When your customer needs change or new opportunities appear, you need to have the ability to get new manufacturing equipment into place and on time. Advances in technology and manufacturing equipment have made it possible to increase labor productivity and reduce labor expenditure. These benefits can only be achieved by using the best-updated equipment, which requires capital.

Working with 1st Commercial Credit for your equipment financing needs will bring you many advantages, including:

  • Access to new and used equipment
  • Debt management
  • Preserve working capital
Economy Of Virginia Beach

Virginia Beach’s economy is known for its many diverse industries, including nationally and internationally corporate headquarters, tech-advanced manufacturers, billion-dollar defense contractors, and local businesses and shops. Virginia Beach also puts a lot of focus and effort into attracting new businesses and capital investments while creating new economic opportunities for the community.

Virginia Beach’s defense sector continues to be a massive contributor to the local economy. Agriculture is also a significant contributor, with more than 23,000 acres of farmland and generating more than $139 million. Some of the other key industries in Virginia Beach include Advanced manufacturing, biomedical and life sciences, IT/Cyber, maritime and logistics, offshore wind, office/retail, and small business/startups.

What Is Virginia Beach Known For?

Virginia Beach is a bustling and vibrant coastal city and a trendy destination for tourists all year long. It offers a flourishing local dining scene, maritime history, family-friendly attractions, and arts and entertainment. Some of Virginia Beach’s famous attractions include the oceanfront and boardwalk, Sandbridge Beach, First Landing State Park, ViBe Creative District, Pungo, the Town Center, and the Virginia Aquarium.

1st Commercial Credit is a company factoring receivables in Virginia and various cities including: