We Deliver The FUNDS
0.69% to 1.59%
.png)
A Factoring Company Funding St. Louis, 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.
learn more
What Are The Differences Between Invoice Factoring And Getting A Loan?
As businesses grow, they will need an external source of financing for expansion, payroll funding, marketing, and other expenses. Sometimes, companies are financially strong enough to qualify for a bank loan to obtain the funds they need and increase credit. Often, however, businesses can't be eligible for traditional loans, and less conventional forms of financing are needed. For certain companies, bank loans don't make sense, especially for businesses looking for short-term funding or wanting to avoid adding extra debt to their balance sheet. Banks offer little help with additional borrowing needs and can possibly even hurt your business more in the long run. Factoring is an alternative financing solution that helps companies improve cash flow by unlocking the cash sitting in unpaid receivables. Also called accounts receivable factoring, this process involves treating invoices as collateral sold to factoring companies. Your company will receive cash in advance with each invoice sold, and the best part is that the amount of capital available grows along with your business. As long as you have invoices to sell, funding with factoring is possible.
Working with a bank might seem like an excellent option for many business owners, but the lending market remains tight. If you're lucky enough and get approved, the loan amount may not be sufficient to meet your financial requirements. And on top of that, you'll have a debt to repay. On the other hand, 1st Commercial Credit is a specialized factoring company that offers funds for businesses of all sizes and stages. From startups to well-established companies, loans against receivables are an intelligent solution to resolve cash flow crunches without additional debt.
.png)
.jpg)
.jpg)
.jpg)
.jpg)
Main Differences Between Factoring and a Bank Loan:
Invoice Factoring:
- No debt to repay
- Unlimited finding potential
- Fast approval
- Approval decision based on your client's credit history
- Stratus and small companies can qualify
Bank Loans:
- Principal and interest has to be repaid over time
- Capped funding potential
- An approval decision can take a long time
- Approval is based on your company's credit and operational history
- Startups often turned down
Businesses often need additional funds but cannot meet the long and strict list of borrowing requirements to qualify for a bank loan. In this case, they can come to an experienced factoring company like 1st Commercial Credit. In fact, we often get customer referrals from local banks that want their customers to receive the financial help they can't provide. Banks know we will serve their customers well by providing a speedy and straightforward invoice financing application and approval process.
Invoice Factoring is much faster than obtaining a bank loan. It's no surprise that banks are strict when it comes to loan approval. Not only do they have a time-consuming process, but loan approval decisions are also based on a company's operating history and credit scores. At the end of the day, the bank loan approval process can take weeks or even months. Factoring approval decisions can be made as quickly as in 24 hours.
Invoice factoring services ensure you receive the working capital when you need it the most. Factoring companies buy your eligible invoices at a discount and advance you up to 97% of the total amount within hours of verification. If your business in St. Louis has been turned down for a bank loan, contact 1st Commercial Credit to see how we could improve your cash flow situation and provide you with various financial solutions. Many times new businesses will be denied by banks. Factoring financing is an excellent solution for business owners with bad credit, no credit, or those wanting to avoid working with banks and acquiring debt. We will structure a factoring program for your company that works the best in your market and meets your business's specific goals or needs.
Factoring offers financial solutions that can yield unlimited growth for companies in St. Louis. Including:
- Fast and simple processes
- Credit protection
- No extra debt acquired
- Collections and back-office services
- Credit and background checks on clients
As companies grow, they will need an external source of financing for expansion, payroll funding, marketing, and cover other expenses. Sometimes, companies are financially strong enough to qualify for a bank loan to obtain the funds they need and increase credit. Often, however, businesses can't be eligible for traditional loans, and less conventional forms of financing are needed. For certain companies, bank loans just don't make sense, especially for businesses looking for short-term funding or that don't want to add more debt to their books. Banks offer little extra help with additional borrowing needs and can possibly even hurt more than it helps. Invoice factoring allows companies to improve cash flow by unlocking the cash sitting in unpaid receivables. Also called accounts receivable factoring, this process involves treating invoices as collateral sold to factoring companies. Your company will receive cash in advance with each invoice sold, and the best part is that the amount of capital available grows along with your St. Louis business. As long as you have qualifying invoices to factor in, factoring services are possible.
Working with a bank might seem like an excellent option for many business owners, but the lending market remains tight. If you're lucky enough and get approved, the loan amount may not be sufficient to meet your financial requirements. And on top of that, you'll have a debt to repay. On the other hand, 1st Commercial Credit is a specialized factoring company that offers funds for businesses of all sizes and stages. From startups to well-established companies, loans against receivables are an intelligent solution to resolve cash flow crunches without additional debt.
What are The Benefits of Working with a Telecommunication Factoring Company?
The telecom industry is one that mainly deals with slow-paying customers, which can, in turn, result in many cash flow issues. Telecom businesses can work with a telecommunications factoring company in St. Louis to eliminate the wait for invoices to be paid.
1st Commercial Credit can help your telecom business access funding for payroll, maintenance and repairs, and any other expenses that come with the telecom and cable industry. Many telecommunications companies turn to invoice factoring as a debt-free funding solution for their business. Factoring services can drastically improve cash flow without adding new debt to your balance sheet. Telecommunication factoring isn’t a loan; it’s an advance on your accounts receivable. We pay particular attention to your business needs and make sure to structure the best factoring plan for you. Insufficient working capital can leave your business without the finances to cover costs and fulfill larger jobs.
A telecom factoring company in St. Louis provides the cash flow needed to expand and attract new customers. The best part of this alternative type of financing is that there is no debt to repay. Factoring services give you an advance on your receivables which is basically “earlier payment” for the services you’ve already delivered. You’ve already earned money, but factoring invoices ensures you get it sooner.
Some of the benefits of factoring include:
- Startups can qualify
- No long term contracts
- No monthly minimums or maximums
- Funding is available in 24 hours
- Sufficient working capital to bid on bigger projects
- Steady cash flow to ensure the growth of your telecom business
When telecom businesses partner with a financing company in Missouri like 1st Commercial Credit, they will work with an experienced lender serving many cable and telecom giants like AT&T, Spectrum, Comcast, and others. Our telecommunications financing services can be used by nearly any type of project:
- Cable TV installation
- Telecom sales
- Underground utilities
- Network providers
- Satellite dish installation
- Diagnostics
- Field technicians
- Cell tower installation and maintenance
The telecommunications market is evolving at a fast pace and continues developing because of new technological shifts. This situation offers an excellent opportunity for telecom businesses to take on new opportunities. Still, it can become challenging financially regardless of whether you’re just starting or have been in the industry for many years. With payment terms often being extended, it can be challenging to cover urgent expenses. With our factoring solutions, your business can receive the money faster, without accumulating debt to continue growing and thriving.
Is Your Transportation Company Facing Abundance of Upfront Costs and Needs Funding?
Transportation companies in St. Louis no longer have to wait 90 days or more for payments to come in. These business owners can use the funding services offered by freight factoring companies to pay suppliers and cover business expenses. Factoring is a process by which a factor buys a company’s outstanding freight bills in exchange for a cash advance of up to 97% (percentage can vary by industry) in 24 hours or less. The factor will then collect payment directly from your customers while you continue running the business as usual.
Our funding process is fast and straightforward and gets you the quick cash needed to run a successful trucking and transportation business. The invoice factoring process with 1st Commercial Credit is simple:
- Place a load with a carrier
- After the carrier has delivered the load, you will send the freight bills to 1stCC
- 1stCC will give you the funds in 24 hours or less
- With this advance, you can pay carriers immediately
- 1stCC is responsible for getting payment from your customers
- The remaining freight bill amount will be sent to you after deducting a small factoring fee
Business owners in the transportation industry have to deal with bills, expenses, payroll, all while keeping a reliable cash flow. Cash flow is crucial to keeping any trucking company open and the freight moving to where it needs to go. Cash flow issues are common in the trucking industry. The good news is that 1st Commercial Credit is a freight factoring company with more than 18 years of experience helping trucking companies solve cash flow problems.
Some of the common causes of cash flow shortages in the trucking industry include:
- Overhead expenses
- Extended payment terms
- Big down payments
- Taxes
We are an experienced financing company in St. Louis with several financial solutions for businesses, including equipment financing for trucking and transportation. Some of the advantages associated with our financing services include:
- Having unlimited funding potential
- No minimum requirements
- Electronic submission and online reporting
- Discount negotiations with carriers
- Free administrative support
Need Funding For Your Company In St. Louis, Missouri?
4 Reasons Why Your Staffing Agency Could Need Payroll Funding
We know that staffing differs from any other industry and requires reliable and flexible funding to meet its unique needs. While banks often impose scrutiny and limitations on your staffing firm, 1st Commercial Credit offers accessible, fast, and consistent funding for staffing agencies. It is vital to work with a financing partner that knows your business and industry to help you pay temp workers on time and maximize growth. When staffing firms in St. Louis choose 1st Commercial Credit for their payroll funding solutions instead of a traditional bank, they will experience the following 4 advantages:
- 1stCC Understands Your Staffing Business. Banks Don’t.
1st Commercial Credit knows there are ups and downs in your business cycle and that the cash flow needs you will face can increase or decrease every month. We also know staffing is a negative cash cycle business. So the more and the faster you grow, the more money you need, and banks are not always ready to lend to these businesses. We ensure staffing business owners have consistent access to the funds and working capital required to pay temporary employees on time, without strict limits and restrictions.
- We Focus on Helping Your Business Grow.
When working with a bank, you’ll likely be assigned a manager who doesn’t know much or anything about the temporary staffing industry, and you will be just one more account among hundreds of others. Without the personal attention or expert advice you need, it will be challenging for your staffing agency to achieve the same level of growth that you could achieve with a specialized staffing financing firm. With 1st Commercial Credit, you will be assigned an expert with the staffing experience required to address your questions and concerns.
- Banks Demand Substantial Collateral, Mostly Hard Assets.
Banks typically want to see hard assets that can back up a loan, which is acceptable for certain types of loans but becomes much more difficult when you need to fund a staffing firm. 1st Commercial Credit is familiar with all these strict bank requirements, and we also know many firms don’t have this kind of collateral. With us, as long as you are working with creditworthy customers and have qualifying invoices, we will not impose credit limits or a harsh examination on your payroll financing application.
- Banks Only Offer Funds, 1stCC Offers Much More.
At a bank, you will pay a high-interest rate, and at the end of the day, you won’t get much more than the debt you’ll be acquiring. When comparing traditional bank financing with our alternative financing methods, it is crucial to mention that a bank just gets you the cash advance. Still, with us, you gain access to our complimentary back-office and administrative support services. We will take care of things such as your credit research, accounts receivables, and cash application. In addition, with some factoring companies, you can even outsource your payroll, payroll tax, invoicing, and technology needs.
What Is St. Louis Known For?
St. Louis continues to be the largest metropolitan area in the state and a major midwestern metropolis filled with culture. St. Louis has flourished into an aesthetically beautiful city with green space at the street level. The Gateway Arch, the world's tallest monument made by man, forming a triumphant city skyline, is one of the most famous attractions. The architecture of St. Louis is a mix of commercial, residential, and monumental architecture. Architectural influences reflected in the area include German, French Colonia, early American, and modern styles. Some notable postmodern commercial skyscrapers include the One US Bank Plaza, One Metropolitan Square, and the AT&T Center.
Economy Of St. Louis
St. Louis, Missouri has the 4th most diverse economy, a central location, one of the lowest costs of living, and is home to a highly-skilled and educated workforce, providing the ideal environment along with the necessary assets to help any business succeed. St. Louis has focused on building up and attracting some of the fastest-growing industries and leaders in next-generation job creation, such as tech and energy solutions. Missouri is targeting companies in the following sectors:
- Automotive suppliers
- Advanced manufacturing
- Biosciences
- Financial and professional services
- Health sciences and services
- Information technology
- Military and defense
- Transportation and logistics
