As Your Business Grows
We Deliver The FUNDS
We Deliver The FUNDS
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 moreBank loans provide cash but also debt and are often difficult to obtain. 1st Commercial Credit is a recognized factoring company in Charlotte, helping many companies in all industries by providing accessible loans on receivables. 1st Commercial Credit finances some of the most prominent sectors in Charlotte, including transportation, staffing agencies, manufacturing, and construction, to mention a few.
Bank requirements and processes are usually time-consuming and complicated. Banks often demand a perfect credit score and also ask for collateral as a backup. Even if approved, the overall process and access to cash can take several weeks to months. Factoring allows companies to receive the needed capital without relying on an expensive loan with a high interest rate and incurring debt. Suppose a company has not been in business very long or has had financial problems in the past. In that case, the likelihood of being approved for a bank loan decreases drastically. A good and safe alternative to this would be utilizing our factoring services.
One option available to them is selling their invoices. In contrast to bank loans, invoice factoring makes the whole application and approval process fast and straightforward. To provide invoice factoring to North Carolina companies, we mainly require that a company has good paying customers and has outstanding invoices.
Factoring is a funding alternative that helps companies struggling financially to cover daily business expenses to keep operations uninterrupted. These companies are usually forced to wait 30 to 60 days to get paid by clients, leaving them with insufficient cash flow. Factoring your invoices provides you with immediate cash that you can use to run your business.
Companies often use the funds from factoring to:
Invoice factoring provides quick access to working capital from outstanding invoices allowing Charlotte companies to have the funds needed to take care of business. 1st Commercial Credit funds a variety of businesses in different sectors. We have experienced funding staffing agencies in Charlotte and can provide effective and reliable payroll funding solutions.
With our factoring services, Charlotte business can expect the following:
How factoring works with 1st Commercial Credit:
Many companies in Charlotte use produce and agriculture factoring as these financial solutions have become an effective and reliable financing method for them. Many companies can benefit from agriculture funding, including farmers, retail food processors, food manufacturing companies, food packaging companies, food distributors, shippers, and suppliers.
Currently, agriculture and agribusiness account for 17% of North Carolina jobs. The following information helps understand the impact this sector has on the overall economy in North Carolina. Farmers in the state harvested 102,000 acres of peanuts in 2019, and they also produced 53.2 million bushels of soybeans. North Carolina is one of the main sweet potato producers in the country, with more than 1.7 billion pounds grown each year.
In addition, 149 million pounds of cucumbers has put N.C. as the fifth nationally for production. The state also has top-10 yields of squash, watermelon, cantaloupe, tomatoes, and pumpkins. All this contributes to shaping the state’s agriculture into a robust agribusiness economy.
Farms are now incorporating innovative practices to evolve the agribusiness industry. Kannapolis’ Food Innovation Lab enables farmers and food industry experts to test new products, do research, host and attend workshops, and more to make farming more profitable. The lab has been in the making for six years. It provides a spot for fruit and vegetable farmers, food processors, entrepreneurs, and major-label companies looking to create, test, and market plant-based foods.
As the agriculture and produce business continues expanding in Charlotte, 1st Commercial Credit can provide capital for your produce and agriculture business within just a few days.
Funding is needed to cope with the additional cash requirements of a successful business experiencing fast growth. Our agriculture receivable factoring program is a unique financial tool. Our team relies on account representatives specializing in meeting PACA’s strict requirements to answer any questions about the process. We provide financial solutions for food processing and manufacturing businesses in Charlotte every day.
1st Commercial Credit is a trucking and freight factoring company that services all transportation-related industries in Charlotte and North Carolina. We also provide free online credit checks, fuel discounts, and fuel advances alongside our receivable financing services. We have a software that helps drivers upload images of the bill of lading and merge it with their freight bills, making it easy and hassle-free. Our rapid approval process will inform you when your invoice is approved so you can get back to moving the next load and generating revenue.
We provide freight factoring programs for small trucking businesses in Charlotte.
As long as your company is selling and invoicing to creditworthy customers, we can help your trucking company with our financing solutions.
A small trucking fleet faces financial and operational challenges that are unique to the industry. 1st Commercial Credit knows these challenges and can create unique solutions to help the trucking industry in Charlotte. 1st Commercial Credit has been providing freight factoring to trucking companies for many years. It has a comprehensive understanding of the funding relationship with the trucking sector and can offer financing solutions for the specific needs of the industry.
Some of the recurring and often costly issues for small trucking fleets include permits, maintenance of vehicles, and renting equipment. 1st Commercial Credit provides factoring services for trucking companies, including refrigerated freight, long haul, auto carriers, flatbed hauls, air freight, local delivery, and freight brokers.
1st Commercial Credit uses invoice factoring services to provide a reliable and sustainable business line of credit. 1st Commercial Credit offers quick cash flow for trucking and freight companies in Charlotte within 24 hours of submitting the invoices or freight bills. We offer affordable and competitive rates. Once a trucking customer is established, we can provide fuel credit lines, loans on insurance premiums, or repairs.
1st Commercial Credit is an experienced lender providing fast equipment financing approvals for material handling businesses in Charlotte. Material handling equipment is a necessity for many different types of operations. For example, you will probably find a forklift in many businesses, including warehouses, retail stores, or large enterprises' storage units. Conveyor belts, specialty racks, loading dock fixtures, and many other similar items are also used by many businesses. Material handling equipment financing may be necessary to acquire all of these items as these are usually not directly tied to revenue. 1st Commercial Credit offers outstanding and competitive terms and programs for financing new and used material handling equipment. We have funded businesses for more than 20 years and are knowledgeable about the different equipment needs. We offer great rates, a simple application, and fast approval to get the best material handling equipment financing you need now!
Whether you're expanding your operations or upgrading to the latest technology, you need a material handling equipment acquisition strategy that fits your capital plan. In addition to all the benefits associated with our financing plans, we can structure and tailor a material handling equipment lease or finance deal just for you. This will keep your monthly payments reasonable, so you can free up more cash to address other crucial business areas.
We have extensive financing experience in the material handling industry and provide quick assessment and financial solutions. Whether you need material handling equipment financing for your business or want to facilitate it to your customers, we offer financial plans that fit almost any acquisition or selling strategy. Contact 1st Commercial Credit today to get started with one of our flexible financing options.
Charlotte has many of the world's best-known companies and brands across many different industries in North Carolina. The key sectors at the moment include biotechnology, aerospace, information technology, and transportation. Some other crucial sectors thriving in Charlotte are tourism, textiles, plastics and chemicals, furniture, food processing and manufacturing, automotive, truck and heavy machinery, and pharmaceuticals. The combination of low corporate taxes and cost of living makes this city a perfect place for companies' headquarters. There are currently 14 Fortune 500 and 26 Fortune 1000 companies based there.
Charlotte, North Carolina, is a city full of culture, arts, sports, and entertainment. “The Queen City,” as it is nicknamed, has a population of more than 810,000 residents. It is both a business and financial hub and a university town. Charlotte is the NASCAR epicenter and home to the NASCAR Hall of Fame. It is also the home of The NBA’s Charlotte Hornets and the NFL’s Carolina Panthers. Charlotte has a unique historical architecture that can still be seen across the city.
As a vibrant college town, Charlotte offers many fun activities and places to see. Museums include the Carolinas Aviation Museum, the Levine Museum of the New South, the Hezekiah Alexander Rock House, and the Charlotte Museum of History. There are also many parks and gardens in the Charlotte metropolitan area, including the Daniel Stowe Botanical Garden, McGill Rose Garden, and Wing Haven Gardens.
1st Commercial Credit is a company factoring receivables for North Carolina and various cities including:
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