As Your Business Grows
We Deliver The FUNDS
We Deliver The FUNDS
Accounts receivable financing is used by businesses to convert sales on credit terms for immediate cash flow. 1st Commercial Credit adopts a quick and simple approval process and expedites initial funding in 3 to 5 working days.
learn moreIf your Colorado Springs business offers extended payment terms that can stretch receivables to 30 to 90 days, you may be facing cash flow shortages. To be competitive, the challenge for many small businesses is offering favorable payment terms. For businesses relying on every dollar of cash flow to fund their daily operations, waiting up to 90 days can sometimes seem like an eternity. Waiting on payments can cause periodic cash flow shortages, making it challenging to take on new or larger orders.
Factoring turns receivables into cash that your Colorado Springs business can use to fund operations while continuously growing. Once you reach the critical position to put your extra cash flow in reserve, you won't need to factor in invoices anymore (unless an unexpected expense creates another cash shortage).
1st Commercial Credit is an experienced factoring company that offers various financial solutions to Colorado Springs businesses. With invoice factoring, your company is not borrowing money. It's the sale of an asset (receivables/invoices) – so nothing is shown on the books, and the transaction is closed when invoices are finally paid. More established businesses will sometimes use factoring to avoid taking on additional debt.
A factoring company like 1st Commercial Credit can help your company obtain the funds. Once a company is on a receivable-based financing program with us, we can offer other financial instruments, including purchase order financing, supply chain financing, and short-term cash advances on future orders. Businesses with seasonal sales or other fluctuating capital demands can significantly benefit from these financing programs. When a factoring line of credit is established, our decision-making is within hours when a client requests additional working capital in the future.
Companies in Colorado Springs that traditional bank loans have turned down can significantly benefit from 1st Commercial Credit's invoice factoring and other financing programs. Your company may be in the process of building a solid credit and even have a decent record of their cash management, but it's still highly likely to be turned down by a traditional lender.
If your company can't manage to wait for a reliable source of working capital, establishing a relationship with a factoring company is the best financial solution for this and many other cases. Invoice factoring is the optimal solution for startups and other businesses that don't have "good enough" credit, financial strength, or assets to borrow against and qualify for traditional bank loans. Several years can pass before your Colorado Springs builds the assets and history that banks are looking for. Many businesses can't wait that long, which is why they are turning to invoice factoring.
Our healthcare provider factoring program funds Insurance, Medicare, and Medicaid Receivables in Colorado Springs. Factoring companies consider two types of receivables for financing. One of them is healthcare receivables payable by insurance companies and government agencies like Medicare. The other one is commercial accounts receivables owed by buyers like hospitals for daily use items or services.
1st Commercial Credit receives many inquiries every day from medical and nurse staffing agencies looking for a receivable-based line of credit. Financing programs for medical providers are considered a reliable way for consistent cash flow to take care of business obligations, including payroll. Major medical industries and suppliers need our services to close their cash flow gaps.
When a healthcare provider utilizes 1st Commercial Credit's medical accounts receivable financing to obtain quick cash for their receivables, they stabilize their business and have the cash flow to offer better medical attention and services to more people. Medical clients include Medicare and Medicaid and commercial health insurance companies. All can take from 90 to 120 days to pay invoices. Also, most of the time, payment for medical services comes long after a patient is discharged or cured.
1st Commercial Credit specializes in medical accounts receivable factoring for the Colorado Springs healthcare industry. Start-ups, small, medium, and large companies can apply and qualify for our medical factoring programs.
Most medical billing is to insurance companies that are notorious for the delay in paying. We have more than 18 years of experience dealing with such companies and will remove the stress of waiting for payment. Many healthcare providers in Colorado Springs benefit from medical accounts receivable financing. We specialize in bringing working capital to healthcare providers nationwide, including medical practices, hospitals, doctors, nursing homes, home healthcare companies, rehab clinics, ambulance service providers, MRI and radiology centers, laboratories, and others with receivables payable by Medicare, Medicaid, HMO's, and private insurance.
Your Colorado Springs manufacturing company can start using its accounts receivable assets for business expansion. Manufacturing companies that need to offer credit terms to customers utilize our funding program not to disrupt operations or growth while waiting for these payments for extended periods.
Cash flow issues will no longer disrupt your business operations; businesses working with a factoring company like 1st Commercial Credit can easily tap into their receivables asset for immediate working capital. Your Colorado Springs may now afford to offer credit terms to larger and new customers. Allow your business to have access to early-pay discounts offered by your suppliers and countless other opportunities.
Manufacturing factoring involves selling your company's outstanding invoices to a factoring company in Colorado Springs for a cash advance. Unlike a loan, invoice factoring for manufacturing does not involve borrowing money. Instead, it buys and converts your receivables (invoices) into cash that you can use to cover your business expenses.
Even successful manufacturing companies have difficulties meeting daily expenses when payments on extended terms take a long time to arrive. Instead of settling for cash flow instability and halted growth, start selling your receivables to secure the working capital your Colorado Springs company needs.
Cash flow issues will no longer disrupt your business operations; businesses working with a factoring company like 1st Commercial Credit can easily tap into their receivables asset for immediate working capital. Your Colorado Springs may now afford to offer credit terms to larger and new customers. Allow your business to have access to early-pay discounts offered by your suppliers and countless other opportunities.
Manufacturing factoring involves selling your company's outstanding invoices to a factoring company in Colorado Springs for a cash advance. Unlike a loan, invoice factoring for manufacturing does not involve borrowing money. Instead, it buys and converts your receivables (invoices) into cash that you can use to cover your business expenses.
Even successful manufacturing companies have difficulties meeting daily expenses when payments on extended terms take a long time to arrive. Instead of settling for cash flow instability and halted growth, start selling your receivables to secure the working capital your Colorado Springs company needs.
In contrast to a bank loan, your company can immediately begin enjoying the benefits of manufacturing factoring—no need to wait 60 to 90 days for payments. Instead, your business can cash within 24 hours of invoice submission, and no debt is created on your balance sheet.
You can utilize your increased cash flow to cover everyday operating expenses and continue to grow your manufacturing business in Colorado Springs by factoring in your receivables. Your company will have no restrictions or limits on how you can use your cash. Funding potential increases along with your sales.
1st Commercial Credit can process your company's financing application in 3 to 5 business days after submitting a short 2-page form. Your company can still qualify to factor in your manufacturing invoices even if it has specific financial issues or a low credit score. The funding decision is based on your customer's creditworthiness and ability to pay, not your company's. We offer competitive rates between 0.69% to 1.59%, and we have no up-front or hidden application fees. We can also evaluate your company's receivables with no obligation to help you understand better how we can help and find out if factoring is the right financial solution for your Colorado Springs business
How Does Invoice Factoring Work?
Cash flow is what maintains any business alive, and when it slows or stops altogether, it can cause a company to fail.
All businesses, especially smaller, emerging businesses, need a reliable source to provide quick cash when needed. Not in a few weeks or even months from now, but when it's required to pay bills, payroll, purchase inventory, and can take advantage of new opportunities.
Businesses have turned to factoring companies in Colorado Springs as a quick and reliable source to turn invoices or receivables into cash.
Invoice factoring involves a business selling their invoices to a factoring company like 1st Commercial Credit. Factoring, or receivables financing, is becoming more popular today as a financial alternative – due to the growth of new businesses.
When a growing business needs working capital, it has limited options for obtaining it. As a general rule, banks won't lend money to businesses without good credit or an extended operating history. Investors are usually discouraged from investing in a company with irregular cash flows.
What many businesses possess is their invoices, which are assets they can sell for immediate cash. Factoring companies will buy your pending invoices in exchange for quick cash. When the company's customer pays the invoice in full, the factoring company then remits the balance to the business minus the factoring fee.
With most factoring companies in Colorado Springs, the factoring process is quick and easy. Once a business is approved for the factoring program, which usually takes 3 to 5 days, outstanding invoices can be submitted to the factoring company. The cash will make it to your account within 24 hours. As it is a sale transaction, not a loan, there are no interest charges and no debt on the business's balance sheet. Once the invoice is paid, that particular transaction is closed. Additional future invoices can be submitted for factoring as needed later on, and the funding process is even faster once already set up.
Factoring companies accept businesses with poor or no credit because their customer's financial ability to pay is what matters most during the approval process. If you have customers with a stable track record of paying their bills on time, you are likely the ideal applicant for factoring.
In most cases, any business that issues invoices to a business customer can be a candidate for factoring. If your business needs cash today, and can't access other forms of traditional financing, financing your receivables with 1st Commercial Credit might be the financial solution.
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1st Commercial Credit is a factoring company in Colorado providing invoice factoring services to the following cities:
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