Is 1st Commercial Credit the right factoring company for you?
Established in 2001, 1st Commercial Credit is one of the largest independent providers of asset based financial services. With offices in the United States, Canada and the United Kingdom, they are able to offer export trade financing worldwide and can convert accounts receivable transactions in 17 currencies. They are equipped to offer credit lines as low as $5,000 to as large as $10,000,000 to small, medium and large-sized companies in nearly every industry. Their customer base includes Agriculture and Produce, Distributors, Export Trade Finance, Government Contracts, Manufacturers, Medical Providers, Oilfield and Gas, Service Providers, Security Guard Companies, Temporary-Staffing and Recruitment, and Trucking and Freight Brokers.
1st Commercial Credit has many lending options for USA based companies: invoice factoring services, invoice discounting, inventory finance, purchase order financing, international trade finance and other related financial services. Because of their flexible funding requirements, businesses find it easy to qualify for their services and can enjoy initial funding within 3 to 5 working days after approval. After an account is set up, funding is transferred within 24 hours.
About 1st Commercial Credit’s Factoring Program
1st Commercial Credit’s receivable financing and factoring rates range from .69% – 1.59% with an optional structure of prime +2% and an administrative fee. There are no monthly minimums or invoice minimums and no up-front or hidden fees. By using outstanding invoices as collateral, 1st Commercial Credit is able to lend businesses the funds they need to maintain and grow their cash flow.
About 1st Commercial Credit’s Asset Based Lending Program
1st Commercial Credit’s asset based lending program for inventory and accounts receivable is a useful tool for undercapitalized businesses. Asset based financing rates are prime +2% (with an administrative fee) and requires a minimum sales volume of $500,000 in monthly sales to qualify. The most popular form of collateral for asset-based lending is accounts receivable, but inventory, business equipment, and factory machinery are also acceptable.
About 1st Commercial Credit’s Purchase Order Program
Purchase order or trade financing is available for U.S based companies that meet certain criteria. This program funds sales transactions up to 100% of the capital requirements with rates starting at 1.5% to 3% with a prime +2% and administration fee as another option. 1st Commercial Credit’s purchase order financing is a good alternative for businesses whose sales growth is outpacing their available working capital or bank credit lines.