Factoring Company in Durham, North Carolina (NC) | 1st Commercial Credit

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Durham Invoice Factoring Company

1st Commercial Credit | Durham

Over 3,800+ clients funded

No up front fees to set up

No financial required

Funding in 3-5 days

No Up-Front Fees & No Hidden Fees.

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Rates at
0.69% to 1.59%

We Lend MORE Than The Bank

1st Commercial Credit | Durham

No Up-Front Fees & No Hidden Fees.

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Recent Transactions

$210,000

Valve Importer PO Funding

$100,000

Small Fleet Trucking Company

A Factoring Company Funding Durham, North Carolina

Financing Rates at 0.69% to 1.59% depending on industry

No Financials or Setup Fees

Customized Rates

Setup in 3 to 5 Days

Accounts Receivable Financing

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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Purchase Order Financing

1st Commercial Credit provides a variety of purchase order financing solutions to meet your trade financing needs. P.O. financing is suitable for any wholesaler, reseller, importer or any company that purchases and resells goods.

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Trade Payable Financing

1st Commercial Credit offers credit facilities for buyers that need to extend payment terms to suppliers. A trade payable platform for suppliers and buyers to approve and pay invoices online with optional early payment discounts.

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Experiencing Cash Flow Shortage? Here’s Why You Should Factor Your Invoice And Not Wait!

A business owner who doesn't solve a cash flow issue will miss out on vendor discounts, make a late payment and struggle funding payroll for your employees. Eventually, your business will run out of money for fixed expenses and growth opportunities.

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A good cash flow is vital for any Durham business. Issues with cash flow arise when a company does not have enough cash to cover its basic business expenses and legal responsibilities. This situation can threaten the financial position and business operations of companies in Durham.

Everyday situations causing cash flow shortages:

Slow-paying customers
Sales on extended credit terms
Problems invoicing and collecting
Low-profit margins

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Planning for cash flow problems can empower any business to have a safety net and avoid possible financial trouble. Covering expenses and paying current debt can be a struggle when the cash going out of a business exceeds the money coming in.

Most Popular Industries We Fund in Durham, North Carolina

Construction Contrator

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Invoice factoring company for distributors in Durham, North Carolina (NC)

Distributors & Wholesalers

Produce Distributors PACA

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Security Guard Companies

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An alternative to solve cash flow issues is to use loans on invoices and sell your receivables to an invoice factoring company in Durham in exchange for working capital. Your business can sell the unpaid invoices to us to have fast cash in hand instead of waiting weeks or months for payments. The factoring company will advance your company a percentage of those invoices minus a factoring fee.

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If you can prove you sell to creditworthy customers, cash will be available 24 hours after the application is approved. Businesses in Durham receive the remaining balance of the invoice when the customer finally pays.

Cash flow problems slow down your business's capability for growth and expansion. Without sufficient cash, business expenses can't be covered. These expenses include payments to suppliers and payroll.

1st Commercial Credit is an experienced invoice factoring company with supply chain finance solutions that can evaluate your Durham business's receivables and provide quick funding. We fund business in all industries in Durham and offer competitive financing rates of 0.69% to 1.59%.

Should Your Durham, North Carolina (NC) Business Use A Bank Line Of Credit In A Recession?

Looking at economic trends in your industry and the world can help you see the kinds of indicators that will let you identify a recession as it is forming. The most challenging thing for new business owners is preparing and recognizing the signs that financial hard times might be on the way.

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1 (800) 876-6071

Fast Approval Process.

No Financials Required.

3 to 5 Day Initial Setup.

Rates at 0.69% to 1.59%

No Up Front Fees to Set up.

Low Credit Score Accepted.

Free Invoicing Software

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The signs of a recession are usually easy to detect, which is probably why they tend to be disregarded for a long time. Some of the signals can be seen even before major corporations begin laying off employees and small businesses have to shut down. For example, one thing to look at is when the Federal Reserve continually drops interest rates, which is usually done to stabilize the economy. When prime interest rates drop several times in a short time, it is usually a bad sign.

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Keeping an eye on the banks is also a good idea to prepare for a coming recession. When an economy starts to be affected, banks will often react by reducing the amount of regular lending they provide to businesses.‍

Accounts receivable financing company in Durham, North Carolina (NC)

Banks Become Even More Reserved When A Recession Hits

Banks will also be reluctant to provide funding to small and medium-sized businesses. For many companies, bank funding is their emergency plan to solve cash flow issues when the economy is not good. But when that struggling economy causes the banks to close their doors, those businesses are left scrambling for other solutions.

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Businesses relying on banks to supply their funding in a recession will have a challenging time. Banks will usually demand collateral for financing in tough economic times. Physical collateral is not always something that small and medium-sized businesses have. The financial struggle worsens when a small business cannot secure the bank loan it needs during a recession. That business is ultimately forced to make decisions that could eventually lead to its closure.

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A Bank Line Of Credit Is The Least Reliable Financial Tool In A Recession

A bank will be reluctant to extend or provide a line of credit for small and medium-sized businesses.

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Banks also will raise interest rates on lines of credit during a recession, and they also become very strict about the requirements. If you make a late payment, you will have harsh late fees and expect your interest rate to increase. Missing a payment can result in having your line of credit canceled. The ideal solution in this situation is a business line of credit that does depend on a bank.

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1st Commercial Credit Is The Ideal Recession Funding Solution

1st Commercial Credit is a receivable factoring company providing a flexible business line of credit based on the strength of your invoiced sales. During a recession, your company will still be taking in purchase orders and generating invoices for clients. You could solve your cash flow without having to turn to a bank for a line of credit by selling your receivables to a factoring company.

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Staffing Payroll Factoring Will Turn Your Outstanding Invoices Into Cash Today

Factoring is a financial service that helps companies in Durham struggling with slow-paying clients. Companies sometimes have to wait 30 to 90 days to receive payment. Selling your invoices provides you with cash that you can use to run your business. Companies often use the funds from factoring for payroll financing using receivables and pay suppliers, cover tax expenses, build inventory, grow client base, and expand.

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1st Commercial Credit is a lending company for staffing that pays you immediately, so you don't have to wait a long time for invoice payments to come in. Most factoring transactions have two installment payments. The first installment covers anywhere from 70% to 90% of the invoice. The installment is deposited in your account as soon as your client gets invoiced. Once the invoice is paid in full, 1st Commercial Credit deposits the remaining payment in your account. 1st Commercial Credit will help you grow your staffing agency with unlimited payroll funding and invoice financing.

invoice factoring company in Durham, North Carolina (NC)

We have funded staffing agencies for over 18 years. Whether you have a startup or a multi-million dollar operation, you can qualify for our accounts receivable factoring for staffing. Your Durham business can take advantage of our financing programs and get initial funding in 3 to 5 working days. We can accommodate receivable-based credit lines to new temporary staffing companies with minimal funding needs. Another option is our asset-based lending solutions for large staffing agencies that can go up to $10 million if needed.

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5 Reasons Why Manufacturing Facilities Apply To Our Funding Program

1st Commercial Credit provides receivable financing for manufacturing businesses in Durham every day. Often manufacturers have to purchase large quantities of materials and maintain a large staff to run their business successfully. It is critical for manufacturers in Durham to have cash available to cover unexpected costs and repairs. If no money is available for such expenses, it can significantly affect orders and ultimately back up orders. Invoice factoring allows manufacturers to access the capital they need to cover equipment and repair costs, purchase materials, meet payroll and many other operational costs.

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‍Factoring Helps You Grow Your Business

Invoice factoring for manufacturing will help your Durham company grow and thrive. As you have access to more reliable cash flow, you can focus your marketing resources and promote your staffing agency. Invoice factoring gives you the steady source of cash you need to improve and expand your manufacturing business.

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Factoring Helps You Obtain Consistent Cash Flow

Insufficient cash flow can seriously harm your business. Reliable cash flow is necessary for running your agency daily. As with any business, manufacturers have their highs and lows. Yet even when a business slows down, financial obligations still need to be covered, such as paying employees and keeping your company running.

Fast and Accessible Form of Financing

Applying for a business loan is a challenging and time-consuming process. It can take several weeks or even months to get approved and get the funds you need. On the other hand, invoice factoring is quick and straightforward. Once you're approved and submit your unpaid invoices, you will get funds deposited immediately. Banks will also limit the amount you can borrow based on specific criteria like time in business and credit score. With invoice factoring, you can receive unlimited funds based on your company receivables.

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Better Terms Than with Traditional Financing

Many businesses that can't obtain a bank loan can qualify for our factoring services. Additionally, you'll find the terms and conditions to be more beneficial to your long-term financial health. For one thing, invoice factoring won't add debt to your business. It is not like taking out a loan but simply putting your unpaid invoices to work so you don't need to pledge collateral such as company real estate or equipment. Many businesses find factoring to be a more favorable and less stressful type of financing.

Factoring Companies Also Provide Extra Office Support

Factoring companies will also help you save time and run your office time more efficiently. We offer assistance with accounts receivable reporting, collections, and customer relationship management. When you work with a good factoring company, you receive valuable extra help running your back-office tasks so you can invest more time in essential tasks such as recruitment, training, and talent allocation. This is another way that lending for manufacturing companies can help your business thrive and grow.

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Economy of Durham

The Research Triangle in North Carolina has always been a leading hub of creativity and genius in tech. As the home of colleges like North Carolina State University and Duke University, the Durham area has a community of up-and-coming tech-related professionals. That talent pool has given rise to an exponential growth of tech jobs and startups in the area.

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Part of why Durham is an ideal location for founders includes a diverse talent, low cost of living, and the city's commitment to fostering economic, infrastructural development. Durham is home to more than 300 startups in the downtown area. The 14 most prominent tech companies in Durham include FHI 360, Cree, Toshiba Global Commerce Solutions, Marken, Measurement Incorporated, Parata System, Cenduit, Emergys.

What Is Durham Known For?

Durham is famous for being the home of Duke University and The University of North Carolina's flagship Chapel Hill campus. The city is also part of the Research Triangle Park, one of the nation's most prominent high-tech research and development centers. Duke's men's basketball team is a big attraction and draws many followers to the area. Another main attraction is the many different festivals in the city, including the Full Frame Documentary Film Festival and the American Dance Festival. The Nasher Museum of Art produces nationally recognized traveling exhibitions of global and contemporary art.

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1st Commercial Credit is a company factoring receivables for North Carolina and various cities including:

$350,000

$650,000

A Factoring Company Funding Durham, North Carolina

Experiencing Cash Flow Shortage? Here’s Why You Should Factor Your Invoice And Not Wait!

Should Your Durham, North Carolina (NC) Business Use A Bank Line Of Credit In A Recession?

Staffing Payroll Factoring Will Turn Your Outstanding Invoices Into Cash Today

5 Reasons Why Manufacturing Facilities Apply To Our Funding Program

Need Funding For Your Darham Company?

Economy of Durham

What Is Durham Known For?

1st Commercial Credit