We Deliver The FUNDS
0.69% to 1.59%
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A Factoring Company Funding Kansas City, Missouri
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.
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Receive Cash In Hand By Factoring Your Company’s Invoices And Accounts Receivable
Invoice factoring in Missouri is a fast and reliable cash flow solution for businesses in various industries. Many companies in Kansas City have to continue running operations and take care of payroll, bills, expenses, and many other financial responsibilities. Business owners choose this alternative form of financing because they have to wait weeks or months to receive payment. A company sells its invoices to 1st Commercial Credit in exchange for an immediate and considerable percentage of the total invoice value in the form of cash. Then, when your customer eventually pays for the goods/services they received, we will give back the remaining balance after keeping a factoring fee. In summary, invoice factoring allows a company to get “quick payment” after they’ve invoiced a customer, even if the client has agreed to pay later on.
To know if this type of financing would work for your business, it is vital to understand what is invoice financing, the financing process, and the requirements. Compared to bank financing, which requires endless paperwork and a lot of collateral, invoice factoring is a better option. For most small businesses, it might be challenging to fulfill all the requirements. The good news is that 1st Commercial Credit is willing to work with startups and small companies without asking them for significant payment guarantees, demanding long-term contracts, or outstanding credit scores. We offer more accessible and flexible financing alternatives for small and medium-sized companies in Kansas City. The cash advance and factoring fees will vary depending on the factor, the creditworthiness of your customers, and the length of the arrangement.
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The best thing about factoring is that you can immediately begin enjoying all the advantages it offers. Business owners don’t need to wait 30, 60, or 90 days for payments. Instead, they can receive as much as 96% of their invoice value without adding new debt to the business. Factoring receivables will improve your cash flow, allowing you to cover daily operational expenses and make substantial investments to grow your business.
Some of the extra benefits of factoring include:
- No monthly minimums or maximums
- Manage current business debt
- Take advantage of volume discounts
- No long-term contracts
- More flexibility
- Save time and money
- Low credit approved
- 24/7 online reporting
Another good thing about account receivable loans is that they offer competitive and accessible financing rates starting at 0.69% to 1.59% and can evaluate your situation today. Once we have reviewed your cash flow needs, we can structure the best financing arrangements to fit your business needs and goals.
What Is Trade Payable Financing And Is It Considered As Debt?
1st Commercial Credit can facilitate buyers with a financial service that provides additional working capital to pay suppliers. Trade payable financing is the process of financing goods or services in a transaction that goes from a supplier to the end buyer. Trade finance refers to a range of financial instruments, including invoice financing, purchase order financing, supply chain finance, and letters of credit. We will pay the suppliers on your behalf on the due date and collect from the company later. Trade payable finance is best suited for those companies sourcing from crucial suppliers and looking to extend the payment terms.
Business owners in Kansas City can take advantage of early payment discounts offered by vital suppliers or extend payment terms. We can allow your company to access up to $10 million in purchasing power within a few working days.
In a few words, we pay your company to make money by using our services. If you're passing up on early payment discounts to suppliers, you can use our money to pay them and take advantage of our trade payable program. Trade payable financing makes it simple for buyers to sign an agreement with us that involves minimal paperwork and that is done within 3 to 5 days. Avoid the long and complex list of items required by other lenders to set up.
If you're a distributor, manufacturer, or you're buying goods internationally, using trade payable financing can help your business conserve cash and run operations more smoothly and efficiently. This financing method relieves cash flow issues by financing a purchase at a more generous advance rate or over a more extended period. Some benefits of trade payable financing for buyers include:
- Extend payment terms for purchases from crucial suppliers
- The buyer defines the payment term
- It is a straightforward and fast service to implement
- Can be classified as Trade Financing or Trade Payables rather than Financial Debt
There are many trade payable finance companies to choose from. Buyers need a simple process to apply, a quick method to approve vendors, and a flexible system for the staff to learn the process. If the system is too complicated, it will fail. The main focus is to make it extremely simple for the supplier to submit an invoice and the payables department to approve, authorize and track. 1st Commercial Credit is a specialized lender providing export trade finance to business owners in Kansas City.
Medical Receivables Factoring Provides Instant Capital To Medical Providers
The healthcare industry has experienced a period of unprecedented growth in Kansas City. Companies providing medical services serve many patients and can significantly benefit from healthcare accounts receivable factoring. Unfortunately, the amount of money insurers pay for insurance claims has considerably decreased and takes a long time.
Having more patients and dealing with longer payment times can often result in cash flow problems. Even though most healthcare businesses will run into this issue, few business owners will know how to handle it. One popular solution to solve cash flow issues is working with lenders that offer financing for companies in Kansas City.
Our factoring services provide:
- Immediate and simple funding.
- Use your receivables as collateral.
- Pay for business expenses and payroll.
Hospitals and healthcare businesses have to deal with the pressure of meeting their daily obligations. They have numerous expenses, including payroll, leases, and equipment, which must be paid on time. 1st Commercial Credit offers efficient and straightforward solutions to improve cash flow. Some of these solutions include accounts receivable financing, medical factoring, and purchase order financing. The healthcare company gets the funds it needs to pay business expenses and grow, and patients get the care and treatment they deserve.
When medical companies factor receivables, it allows them to finance their medical claims with our help. 1st Commercial Credit gives you an advance on your claims, giving you immediate access to working capital. Transactions are ongoing and settle as insurance companies pay claims on their established payment schedules. In addition, medical factoring is considerably easier to obtain than traditional financing. The lines of credit are more flexible and don’t have strict requirements.
Sell Your Freight And Transportation Invoices To A Factoring Company And Receive Funding
A freight broker typically brings together a shipper with goods to transport with an authorized carrier providing services. Freight brokers help shippers find trustworthy carriers to place their loads at a fair cost, and they earn commissions for these services. In many cases, brokers coordinate all the shipping and transportation management needs of a company. As an intermediary, sometimes these brokers have to wait to receive payment from a client, which can slow your company down.
This situation will make payments to carriers challenging to fulfill, preventing you from taking on new loads. The good news is that we provide financial services for all businesses in the freight and trucking industry that help them close the payment gaps and achieve success.
Our financial services for trucking companies make it possible to fund new placements without turning to high-interest business loans. Send your freight bills to us to review your situation and send you fast cash right away.
With freight factoring, companies no longer have to wait 90 days or more for payments. They can use these funding services to cover business costs and pay carriers.
Truck factoring services are when a factoring company like 1st Commercial Credit buys a company's unpaid freight bills in exchange for a cash advance of up to 97% (depending on the industry). The factor will then collect payment directly from your customers while running operations as usual. Our financing process is simple and gets you the immediate cash needed to run a successful business. We are an experienced lending company offering several financial solutions to companies in Kansas City.
Some of these advantages include:
- Access to unlimited funding potential - trucking factoring provides a flexible solution that can always be modified to your business needs. Freight factoring uses your company's freight bills and as your business grows, so do your funding possibilities.
- No minimum requirements - 1st Commercial Credit offers an accessible and convenient financial solution because we do not have a monthly minimum or maximum amount to be factored in.
- Electronic submission and online reporting - the submission of freight bills is a fast and straightforward process done entirely electronically. Business owners will also be able to access our online portal 24/7.
- Extra admin support - the specialist team at 1st Commercial Credit provides complementary back-office services such as credit checks and collections and credit checks to ensure you're working with creditworthy clients.
Factoring provides an ideal financial solution to freight brokers all across Missouri. Factoring is not a loan; it is just an advance on unpaid invoices that would otherwise get paid in 30-90 days. Your Kansas City company will get paid "earlier" for services/products that it has already delivered. Unlike traditional lenders that typically take a long time to process applications and approval, 1st Commercial Credit can provide funding in 24 hours or less. Even businesses with low or bad credit can still receive financing.
Need Funding For Your Company In Kansas City Missouri?
We Provide Transportation Equipment Leasing For Semi-Trucks, Trailers, and Box Trucks
Getting approved for financing programs for semi-trucks and other trucking-related equipment is easy with 1st Commercial Credit. In the past, when business owners needed to purchase equipment, they had no option but to turn to a traditional lender or bank to fill their equipment needs. Unfortunately, most banks deny financing to small transportation businesses because of many different reasons, including low credit, not many years in business, and lack of collateral, to mention a few. Thankfully, there is the option to work with a specialized online lender to get the equipment through different financing plans.
We offer a popular program, the reefer, van, and flatbed trailer financing, for companies looking to acquire these vehicles for their operations. Equipment financing involves purchasing the equipment through a loan facilitated by a lender like 1st Commercial Credit. We also offer equipment leasing, which allows you to rent a piece of equipment from a lender. We can provide you with the best rate and financing plans depending on your business qualifications. Our trailer financing rates start at 8.9% and go up to 14.9% for businesses with good credit and more than two years in operations. We also offer financing solutions for newer companies under one year in business or with challenged credit.
Bank loans and leasing from suppliers are still options, but the qualifying process, requirements, and customer service often aren't good enough. Some of the disadvantages involved with bank financing involve:
- Being required to apply in person
- You'll be restricted to fewer and less flexible financing options
- It requires an insane amount of paperwork
- It has a slow process that can last longer than you can wait
- The approval rates are low
The good news about working with an experienced lender like 1st Commercial Credit is that business owners can enjoy many benefits and acquire a loan in less time and with less effort than with any other lender. There are also various financing and leasing options to choose from, including our box truck financing program, where our team of specialists works closely with you to find the best financing plan tailored just for you.
What Is Kansas City Known For?
Kansas City is in the Midwest, right on the border between Kansas and Missouri. This city is famous for its steaks and barbecue, earning it the title of the "Barbecue Capital." Kansas City has a legacy in jazz history that can be explored in the Historic Jazz District. Another historic area is the Westport Neighborhood that displays antique shopping and river cruises. Kansas City is also home to several museums, including the Arabia Steamboat Museum and the Nelson Atkins Museum of Art. Some places to visit in this world-famous city include the National World War I Museum at Liberty Memorial, Nelson-Atkins Museum of Art, Arabia Steamboat Museum, Union Station, and many more.
Economy Of Kansas City
Kansas City’s economy is supported by various companies and is a national leader of several key industries which are integral to regional economic growth. These crucial industries include distribution and transportation, eCommerce, manufacturing, animal health, technology, and the financial sector. In addition, the utility and telecommunications infrastructure has enabled Kansas City to develop several thriving contact and data center operations. Kansas City is also an ideal location for corporate headquarters.
