Is 1st PMF Bancorp the right factoring company for you?
1st PMF Bancorp is a family run commercial bank that has been in business for over 30 years. With offices in the United States, London, and across Asia, they are capable of offering a variety of financial services to small and medium-sized businesses looking to improve their working capital. While they specialize in traditional invoice factoring and trade financing, they also provide accounts receivable management, a credit insurance program, letters of credit, purchase order and inventory financing, foreign invoice factoring, and their trade-marked Supply Chain Plus Financing Program.
About 1st PMF Bancorp’s Factoring Programs
PMF’s rates are very competitive with a quick proposal turnaround that is generally within 24 hours. With prime plus bank pricing and reasonable advance rates, their custom-designed factoring services have provided successful funding to thousands of companies world-wide. They have a credit insurance program available to protect their clients from non-payment of invoices. Unlike other financial institutions or factoring companies who offer what is commonly referred to as an “invoice guarantee,” 1st PMF Bancorp uses a third party AAA insurance company to underwrite all of its insured policies. Credit insurance such as this guarantees repayment for an invoice or group of invoices that could go unpaid due to bankruptcy or financial stress of a company.
About 1st PMC Bancorp’s Trade Financing Programs
To assist companies with the importing and exporting of goods, 1st PMF Bancorp has developed a unique trade financing plan called the Supply Chain Plus Financing Program. Products for financing imported goods include issuing letters of credit and purchase order advance financing. To better assist their clients, however, they have also developed a special finance program called PMF Trade Pass. It bypasses the red tape often associated with issuing letters of credit and works much alike a credit card. Buyers and sellers are pre-approved with a credit limit and can use their line limit to purchase goods abroad. Products for financing exported goods include direct invoice factoring for foreign clients, relationships with a network of international partners with export factoring services, and guaranteed export financing to US clients through Ex-Im Bank.
1st PMF Bancorp belongs to the Better Business Bureau and International Financial Group. In addition, they are proud to partner with ChinaMart, Baolida Commercial Lending, YiWu Commodity City, Canton Fair, and Pepperdine University.