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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 moreIf your Georgia business is experiencing rapid growth and has caused cash flow shortages, working with an accounts receivable financing company might be the best financial solution for your Georgia business. 1st Commercial Credit is an experienced lending company working with a variety of industries in Georgia. It can assess your business’ situation and give you financing advice so you can choose what’s best for your business.
Invoice factoring is not a loan. The process of selling receivables to an experienced invoice factoring company in Georgia means that these invoices are sold at a discount in exchange for cash.
The factoring company will then own the unpaid invoices and be responsible for collecting the payment directly from your customers. This collection can take anywhere from 30 to 90 days, which can be a long time for many growing businesses.
Businesses also can turn to a bank for a traditional bank loan, but their requirements usually demand a challenging and time-consuming process. While bank loans may be secured by a variety of collateral, such as plants and equipment, real estate, and/or the business owner's personal assets, accounts receivable financing is only backed by a promise of the firm's assets connected with the accounts receivable to the finance company.
On the contrary, working accounts receivable lending involves quick application and approval processes, fast cash, and many growth opportunities.
Georgia's industries have experienced unprecedented success and growth in the past years, making the state's economy stronger. More than a dozen Fortune 500 companies and about 30 Fortune 1000 companies have chosen Georgia for their headquarters. Among these companies, there are UPS, Coca-cola, Delta Air Lines, Home Depot, to name a few.
As Georgia businesses continue to experience success and growth, they will run into situations where they will need the assistance of an experienced lending partner. Financing the expansion or launch of a business requires a good amount of money, but it can be highly challenging for entrepreneurs to find the cash they need. Many companies have trouble getting loans from traditional banks, and often investors can be challenging to find.
1st Commercial Credit is a factoring company providing financial solutions to businesses in Atlanta that can help your business today. The capital of Georgia (GA) has one of the busiest airports in passenger traffic and aircraft traffic. The Port of Savannah is another contributor to the success of many industries in this state, and it is the fourth largest seaport in North America. Some other industries booming in Georgia are finance, technology, manufacturing, insurance, real estate, service, trucking, and communications.
A factoring company (or accounts receivable factoring) converts invoices sold on credit terms for immediate working capital at a discount. It has become a simple, fast and easy way to access business cash flow. In comparison with a traditional bank loan, a company that factors receivables has a quicker approval process.
1st Commercial Credit specializes in accounts receivable loans and making quick approval decisions. The primary requirement is that a company has invoices for work or orders that have already been satisfied. Approval is likelier if the business has been in operation, meets revenue requirements, and is free of liens or legal issues.
Georgia businesses will seek the help of an experienced financing company, like 1st Commercial Credit, for many different reasons. Invoice factoring is the optimal financial solution for businesses experiencing issues with their financials and cash flow. These events can be caused by long credit terms or the inability to qualify for a traditional bank loan. When you sell your outstanding invoices to a factoring company in Georgia, your business will have the opportunity to expand and grow.
Factoring Process:
Understanding the invoice factoring process will help you make a more informed decision when comparing options for financial solutions. An incorrect assumption is assuming only companies struggling can benefit from working with an accounts receivable factoring company. Successful companies have found this financial solution to expand and still offer better credit terms than the competition.
A consistent, reliable, and healthy cash flow maintains a business alive, and when it slows or stops altogether, it can cause a company to fail. All businesses need a reliable source that can provide quick cash when needed. Not in a few weeks or even months from now, but when it's required to pay bills and other operational expenses including funding payroll.
Businesses have turned to factoring companies in Georgia as a quick and reliable source to turn their receivables into immediate cash. Accounts receivable factoring involves selling a company's invoices to a factoring company like 1st Commercial Credit. Today, many Georgia businesses including staffing agencies benefit from factoring companies as a financial alternative to maintain growth. Factoring solves your firm's cash flow issues and offers the ability to pay off existing debt and implement new training or hiring programs in place.
There is no need to continue waiting for those extended payment terms to end so your business can receive payment. You can start today borrowing money for your staffing agency and get initial funding in 3 to 5 working days. No financials needed, no up-front fees to set up, it is that easy.
Georgia is a prominent national leader when it comes to the advanced manufacturing industry. It outpaces the U.S in growth in the manufacture of products such as machinery, electrical equipment and components, and fabricated metals and employing more than 270,000 workers.
Georgia businesses will seek the help of an experienced financing company, like 1st Commercial Credit, for many different reasons. Invoice factoring is the optimal financial solution for businesses experiencing issues with their financials and cash flow. These events can be caused by long credit terms or the inability to qualify for a traditional bank loan. When you sell your outstanding invoices to a factoring company in Georgia, your business will have the opportunity to expand and grow.
Georgia's government has a long history of supporting businesses in the State by passing bipartisan legislation that is business-friendly and stopping legislation from imposing impediments to business success in Georgia. Many companies have chosen Georgia as the perfect place to set up their innovation centers in advanced manufacturing. These companies were drawn to Georgia because of its advanced workforce in computer science and engineering fields of study and many incentives facilitated by the Georgia business-friendly government.
Georgia's strong trucking system supports manufacturers with a variety of efficient logistic operation options so they can count on a reliable system for moving their supplies and products. Georgia businesses have easy access to Hartsfield-Jackson Atlanta International Airport, The Port of Savannah, Georgia's railroads, Cordele Inland Port, and the Appalachian Regional Port. These transportation facilities make it possible for Georgia businesses to reach and connect with the rest of the country and the world.
With all this growth and success, advanced manufacturing companies in Georgia need an excellent financial partner by their side more than ever. If you are looking for a factoring company for manufacturing, 1st commercial credit offers receivable finance for advanced manufactures in Georgia experiencing working capital issues. 1st Commercial Credit's invoice factoring and accounts receivable lines of credit provide the financial flexibility needed to enhance your company's capacity to grow and not have to worry about cash flow issues or pledging collateral. We focus on your customer's credit line and financial ability to pay, not on your company's.
Invoice factoring is a financial solution used by businesses in different industries, including advanced manufacturing, agriculture, medical providers, construction contractors, IT, staffing agencies, trucking, and more. 1st Commercial Credit factoring process is fast and straightforward. Once a company sells its products or provides the service, an invoice will be created.
Businesses will sell their outstanding invoices to a factoring company. 1st Commercial Credit will then pay an immediate cash advance based on the invoice value minus a factoring fee.
The invoices are then sent on to the customer for processing and payment. Once your customer pays the invoice to the factoring company, the remaining balance, less a small factoring fee, is paid to the business.
When an advanced manufacturing company in Georgia is growing, there are many things to consider, 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.
Businesses will sell their outstanding invoices to a factoring company. 1st Commercial Credit will then pay an immediate cash advance based on the invoice value minus a factoring fee. The invoices are then sent on to the customer for processing and payment. Once your customer pays the invoice to the factoring company, the remaining balance, less a small factoring fee, is paid to the business.
Your Georgia advanced 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. This is exactly why 1st Commercial Credit has put so much effort into developing manufacturing equipment leasing & financing programs so that business owners in this industry can have a way to get the equipment needed to run a successful operation without depleting precious cash reserves.
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.
Advanced manufacturing companies in Georgia can start using their accounts receivable assets for business growth. 1st Commercial Credit offers receivable financing to manufacturers in Georgia that need to provide credit terms to customers. Your production line will no longer have to be interrupted. Georgia businesses can use their receivables assets and exchange them for fast cash flow.
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