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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 moreOften, North Carolina businesses have to wait for weeks or even months for customer payments. During this time, they might be cash deficient and may not have the funds available to pay for current operational expenses or grow their businesses. Accounts receivable factoring is a perfect financial solution for North Carolina businesses in this situation.
It is necessary to understand the crucial differences between invoice factoring and a traditional bank loan when looking into financing programs for your company in North Carolina. The process of selling receivables to invoice factoring companies does not involve a loan; instead, the invoices are sold in exchange for fast cash at a discount. The unpaid invoices will become the property of the factoring company who will collect directly from the customers.
A significant benefit invoice factoring offers to businesses is having the ability to raise cash quickly and safely. Factoring also provides plenty of other benefits, some of which you may not even know about. Factoring can minimize risk against client bankruptcy. It doesn’t add debt to your company and can help with collections, just to mention a few of the extra benefits.
Invoice factoring provides a steady and reliable source of cash flow without adding debt to your business. We know all companies have unique needs and operate differently.
1st Commercial Credit will evaluate your business receivables without any obligation to figure out how to help and provide the best financial solution. 1st Commercial Credit has three principal financial tools for all industries in North Carolina, including purchase order financing, invoice factoring, and trade payable credit.
North Carolina businesses in need of cash flow can use accounts receivable financing as their financial solution. Factoring receivables allows companies to maintain a consistent cash flow and improve their financials.
In summary, there are 6 main reasons why invoice factoring is the optimal financial solution for North Carolina businesses.
1st Commercial Credit provides financing options for Charlotte (NC) and other cities in the state of North Carolina. We fund companies in various industries in NC every day, including advanced manufacturing, logistics, staffing agencies, healthcare, and many others.
The manufacturing sector tends to have a cyclical flow of business involving highs and lows. Manufacturing companies in North Carolina know this situation can cause many financial challenges, including creating a gap between paying for production and collecting goods sold.
This common situation makes invoice factoring an excellent financial solution for the manufacturing industry. Factoring is a reliable and effective method for these businesses to get fast cash and continue production. The manufacturing process involves many elements necessary to deliver goods on time, from factory expenses to funding payroll, shipping costs, and purchasing materials, to mention a few.
Invoice factoring for the manufacturing industry is a financial solution that will help businesses with their cash flow issues. Selling your receivables to 1st Commercial Credit will help meet the costs of new equipment purchases, factory expansions, seasonal staff increases, and many more operational costs.
1st Commercial Credit is an invoice factoring company in North Carolina dedicated to serve businesses and provide the best financial solutions. We offer different financing solutions to manufacturers every day and can assess your company's receivables with no commitment.
1st Commercial Credit grants receivable finance for manufacturers experiencing cash flow needs. Factoring for the manufacturing industry in North Carolina involves selling a company's outstanding invoices to a factoring company for cash in advance. The money can be used to cover your operational business expenses.
If your North Carolina company needs a manufacturing factoring company, 1st Commercial Credit is the answer. The qualifying process involves filling out a short application form, having invoices for work or orders already satisfied, and having creditworthy customers. Manufacturing companies in North Carolina choose 1st Commercial Credit because we offer invoice factoring and financing for manufacturers. Our process is quick and straightforward. No financials are required to apply, no upfront or hidden fees, and we make same-day decisions.
1st Commercial Credit's invoice factoring and accounts receivable lines of credit provide the total flexibility needed to strengthen your company's capacity to grow without having to pledge collateral. Manufacturers and importers in North Carolina need more cash flow to run their businesses successfully. Crucial suppliers need to get paid, customers want longer credit terms, and 1st Commercial Credit can help make that happen.
A factoring company (or accounts receivable factoring) converts invoices sold on credit terms to 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 is a company that factors and specializes in evaluating accounts receivable and can make a prompt approval decision. The documentation requirements are not as lengthy, and the main requirement is that an applicant has invoices for work or orders that have already been satisfied. It also helps to have creditworthy customers. As long as a business has been in operation, meets revenue requirements, and is free of liens or legal issues, approval is likelier.
The goal of any staffing agency is to find the ideal place for an employee at a company. To do this, these firms need to provide a paycheck at the end of the pay period. Even though it seems like a pretty straightforward process, often, your business doesn't have the capital to meet payroll until your client pays you first. Your staffing firm can avoid this situation by using accounts receivable financing for staffing agencies. 1st Commercial Credit funds all temporary staffing agencies, regardless of size, industry, or time in business.
We provide financial solutions for both startup and well-established staffing firms. We also have experience working with many different types of staffing firms, including medical staffing. Receivable financing offers a safe and consistent source of funds to alleviate cash flow issues. Your company will now be able to fund payroll each period, cover pressing costs, manage growth, and take on new contracts and opportunities.
1st Commercial Credit also provides loans on receivables for staffing companies in North Carolina. We can help your business by providing operating capital to help you run a successful company. Invoice factoring services are the perfect financial solution for payroll funding. When employees are paid on time, they perform better. Selling outstanding invoices to a factoring company for payroll funding is a simple, straightforward, and flexible funding solution.
The staffing agency industry in North Carolina is one of the successful and prominent one in the state. The thriving sectors served by these firms include healthcare, industrial, office clerical and administrative, the engineering, IT, and scientific sectors.
Is your North Carolina staffing company expanding faster than your working capital?
1st Commercial Credit can help your staffing agency with unlimited payroll funding opportunities. Financing staffing agencies is a very simple process because we have experience offering our accounts receivable financing services to staffing companies in North Carolina. We can accommodate accounts receivable lines of credit for new staffing companies with minimal funding needs. We also accommodate and facilitate financing options like our asset-based lending solutions for larger staffing agencies. 1st Commercial Credit can respond to your financial needs and give initial funding within 3 to 5 working days. We do not require up-front fees or any company financials to set up an account for you..
We finance staffing agencies with as little as $10,000 a month to $10 million for larger agencies. Most of the clients working with us experience the following cash flow problems:
1st Commercial Credit is a North Carolina factoring company providing financing programs to relieve a company's cash-flow issues. We work with many industries in the state and can provide invoice factoring for just about every sector. When outstanding receivables prevent your North Carolina business from covering payroll and fulfilling necessary payments, your business suffers. 1st Commercial Credit can alleviate this by getting you the cash right now through any of our cash flow programs.
1st Commercial Credit offers an array of financial solutions for businesses in North Carolina, including asset-based lending, accounts receivable financing, invoice factoring, purchase order financing, and trade payable financing. We offer ideal funding solutions for recently established businesses and companies who have had difficulties qualifying for a traditional form of financing. For bank loans, time in business and perfect credit history is a must to qualify. When companies don’t fulfill these requirements, banks will turn them down and need to find an alternative form to finance their business. The good news is that with 1st Commercial Credit, you only need to have outstanding invoices from creditworthy customers, and approval takes 3 to 5 days. We also have extensive experience financing contractors with government receivables and can evaluate your company's receivables today.
Small business owners can take advantage of accounts receivable factoring and turn your unpaid customer invoices into fast cash. This financing option is best for business owners whose customers are other businesses. Customers don't pay for goods or services straight away, causing financial distress for some companies. Invoice factoring can provide a financial solution by providing immediate cash for business owners.
Invoice Factoring Process with 1st Commercial Credit:
1st Commercial Credit provides reliable and straightforward invoice factoring services for all types of businesses that serve various industries. We fund small, medium, and large companies in North Carolina every day. These businesses enjoy incredible growth after setting up an accounts receivable factoring agreement with us.
Our receivable factoring services allow businesses to offer credit terms to customers without running into cash flow shortages. We provide fast funding and have flexible approvals for small, medium, and large companies in North Carolina.
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