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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 moreAccounts receivable financing, or invoice factoring, is a financial solution that allows you to sell your receivables or unpaid invoices to a factoring company. This financial solution will provide your business with cash at a discount, allowing you to continue with your business’s daily operations such as payroll and payments to vital suppliers.
When turning to a bank for a traditional bank loan, the process can take a long time to apply for, and the likelihood of approval is very low. The probability of obtaining a bank loan approval decreases when a business does not already have an established banking record. Invoice factoring companies can provide a few financial options for your Tampa business, such as accounts receivable financing, trade payable financing, asset-based lending, and purchase order financing. When using invoice factoring services, your business can begin selling receivables and obtain quick access to cash to take care of the immediate financial needs of running a business.
Factoring accounts receivables with an experienced factoring company is a great alternative form of financing available to all Tampa businesses serving all industries.
Some of the benefits of working with a factoring company like 1st Commercial Credit include:
Partnering with an experienced factoring company will provide optimal financial solutions to focus on the essential thing: to continue growing your business and creating long-lasting relationships with clients and suppliers.
1st Commercial Credit can offer the best financial solutions for Florida businesses serving many industries. With more than 18 years in the business, we can evaluate your company’s receivables and provide you with funding options.
We work with small, medium, and large-sized companies in the Tampa area. Once our clients set up an account with us, we will make a prompt decision and if approved, a business can receive funding within 24 hrs. Businesses experience incredible growth after choosing an invoice factoring company as a financial partner. Your Tampa business will be able to offer better credit terms to customers without facing cash flow issues.
Our financing programs can accommodate companies with seasonal or uneven sales patterns or start-up operations with no financial base to rely upon. Any business can qualify for receivable financing if it generates sales on open credit terms to customers with financial credit strength.
Most of our clients are trying to find a solution to finance their growth or whose past earnings will not justify a traditional loan or credit line increase.
When a Tampa manufacturing company is growing, there are many considerations to make, and how the business growth will be financed is a big one. Growth usually requires investment in infrastructure, marketing, expanded inventory, additional staff, and fixed costs associated with the business.
Your Tampa manufacturing company should have the ability to grow without worrying about turning down contracts or be forced to minimize the growth because of cash flow shortages. The reality is that any growing business will have to offer better credit terms to clients, which means payments will take time to arrive. All this comes with running a successful business, and your competitors are experiencing it too. The only difference is whether the right financial partner is selected to go through this with you.
Manufacturing is one of the primary thriving industries in Tampa Bay. Tampa offers a source of innovation for a wide range of industries. The Tampa Region has the second largest manufacturing employment base in Florida, with more than 2,800 manufacturing companies headquartered here and providing jobs to more than 60,000 people. The Tampa manufacturing sector ranges from precise military specifications to the creation and development of medical devices and manufacturing in highly regulated industries. Tampa Bay’s manufacturing industry also attracts a considerable investment from overseas. About 500 foreign companies from more than 40 nations have been established successfully in Tampa, Florida.
Your Tampa manufacturing company can start using your accounts receivable asset for business growth. 1st Commercial Credit offers financial solutions to manufacturing facilities that need to provide credit terms to customers. Your production line will no longer have to be interrupted. Tampa businesses can use their receivables assets and exchange them for fast cash flow. You may offer credit terms to new customers, take advantage of early-pay discounts, buy larger quantities with additional discounts, and countless other opportunities.
Tampa’s location and very business-friendly environment have contributed to making it an evolved prominent business center in the country. This combination is a huge advantage for businesses in all industries that are establishing or relocating there.
Tampa is famous as a vacation spot, but the city has many thriving industries, and one of them is the agriculture sector. Hillsborough County produces an abundance of citrus fruit, vegetables, beef cattle, dairy products, eggs, tropical fish, and ornamental plants and flowers. As a result, many agriculture-related industries have been attracted to the area, including food processing firms; feed, fertilizer, and insecticide companies; and paper and metal container manufacturers. If you are looking for a factoring company that finance the produce and agriculture industry, 1st commercial credit makes receivable financing easy to obtain with minimal paperwork.
Tampa also has a prominent international trade industry mainly because of its location, port, and airport. Tampa’s extra advantage for the import and export sector is that it is an area where goods can be unloaded for repacking, storage, or transshipment without being subject to import duties. Freight-hauling continues to grow each year. This means many companies in this industry will experience financial needs at some point, and invoice factoring can be their financial solution.
Tampa’s greatest asset is its port, the eleventh largest (by tonnage) in the country and the largest in Florida, handling more than 50 million tons of cargo annually. Our factoring company provides lending options for staffing agencies but also help other industries like healthcare, agriculture, manufacturing, distribution, and trucking companies.
With business-friendly government and community support, low cost of living, and enviable quality of life, Tampa Bay’s perks continue to add up for businesses and 1st Commercial Credit can provide the funds.
Tampa is located along Florida's Gulf Coast on Tampa Bay. The city has approximately 2.88 Million people living in the metro area. This city offers sunshine, blue skies, and an excellent environment for family living. Tampa is also very business-friendly and has evolved into a prominent business center in the country. One can also find an array of other attractions in this city, such as museums, amusement parks. Tampa is known to have a strong Cuban influence on the culture, which has enriched the city culturally. Tampa offers hospitality as warm as its weather.
Another famous attraction is the Tampa Riverwalk. You can bike, run, or walk along the 2.4-mile path with many other great places to visit and see restaurants, the Florida Aquarium, and the Tampa Bay History Center.
Even though the beach is a short drive from Tampa, about 30 minutes, the city's natural attraction lies in the city itself. Tampa's nightlife is one of the main attractions for people of all ages: Ybor City, the main place to go to live music, cocktails, and dancing.
The construction industry in Tampa's downtown area has grown considerably because of young professionals moving and establishing in Tampa. This area of Tampa is full of condominiums and apartment complexes. Part of the reason why Tampa is so appealing to young people is because of its innovative cuisine, concerts, dining options, bars, festivals.
Tampa is a very active, vibrant city. Some of the many outdoor activities to do here include hiking, biking, bird-watching, paddling, and visiting the many parks and preserves in this city like Hillsborough River States Park or Lettuce Lake Park. Kayaking is another popular outdoor activity and enjoys the wildlife around where you can encounter birds, turtles, lazy gators, and even manatees.
Tampa ranks third in terms of population in Florida, making up about one-third of Hillsborough's population. The city of Tampa has experienced unprecedented growth in population and development, which is excellent for businesses established in this area and those wanting to move to Tampa.
Tampa's primary industries include tourism, finance, manufacturing, retail trade, finance and insurance, healthcare and social assistance, tech, construction, professional scientific and technical services, accommodation, food services, and the maritime industry.
Tampa's tax rates are lower than in the rest of the US. The sales tax rate in Tampa is 7% compared to the US average rate of 7.3%, and the income tax rate in Tampa is 0.0% when in the US, the average is 4.6%. Tax rates can make a considerable impact when looking at the cost of living and business.
1st Commercial Credit has extensive experience providing accounts receivable factoring services to Florida and its cities including:
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