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 moreHaving slow-paying customers can be a significant and unavoidable issue for business owners. Slow-paying customers affect your cash flow and can potentially take time out of your day chasing payments.
One of the biggest financial challenges many businesses face is that sales can often take 30 to 60 days to get paid. Suppose you have a client, and their payment terms give them 60 days to pay. Your business will have to wait those two months before payment, causing a cash flow shortage, which will cause an inability to pay bills and other business expenses.
A financial alternative to improve your cash flow is working with a financing company that can provide invoice factoring services. Factoring receivables is a form of financing that offers cash upfront in exchange for your unpaid invoices. Selling your receivables to a factoring company will exempt your Cleveland business from waiting those long periods before payments arrive.
Most factoring companies in Cleveland finance invoices in two installments. The first one is called the advance and covers up to 95% of the invoice. The remaining percentage, minus the factoring fee, is rebated as a second installment once your customer pays in full. Unlike other financial solutions, a factoring company in Ohio makes invoice factoring easy to obtain and flexible.
1st Commercial Credit is a factoring company specializing in receivable financing for many industries in Cleveland, and the financial tools we offer help businesses grow.
Financing accounts receivable is now the preferred financial tool in obtaining flexible working capital for businesses of all sizes in Cleveland.
1st Commercial Credit lends money to produce distributors, medical providers, trucking companies, security guard companies, construction contractors, and many more. We also have extensive knowledge of funding the agriculture industry in Cleveland.
We can fund your business, regardless of the size, by using your accounts receivable as collateral. Your company could be one week old and, as long as you have qualified outstanding invoices, we can help you get the funding you need.
We can help any company, regardless of its financial status. We have successfully helped clients who have tax liens, and we have also helped companies that could not get approved for bank loans. 1st Commercial Credit can provide you with the funding you need based on the invoiced sales you have.
We have the complete application process online. You can submit your application and get the funds within a few working days. 1st Commercial Credit requirements include:
In some cases, we can get you an answer on the same day. It only takes three to five business days to set up your account and start receiving money into your bank account. We make it that easy.
Payroll funding can be challenging for companies, but especially for growing staffing firms. Your staffing firm might need an injection of cash flow to hire new employees, extend payment terms, or increase marketing efforts. Factoring companies for staffing can provide a steady and reliable source of working capital with payroll loans for businesses in Cleveland.
We can accommodate accounts receivable loans for staffing to new temporary staffing companies with minimal funding needs. 1st Commercial Credit evaluates a company's situation to understand the specific objectives and match your business with a factoring program that will fulfill all your payroll funding needs. The initial application and funding process takes 3 to 5 business days. After approval, your temporary staffing firm can access funds within 24 hours and begin funding payroll.
Staffing factoring can help your business succeed. Some of the advantages of accounts receivables loans for staffing agencies include:
Financing staffing agencies is our business, and we fund staffing agencies every week for the first time.
Manufacturing companies in Cleveland are coming to us for accounts receivable loans to solve their cash flow issues. 1st Commercial Credit's invoice factoring and accounts receivable lines of credit provide the total flexibility needed to enhance your company's capacity to grow without having to pledge collateral.
We leverage your credit line based only on your customer's financial strength, not your company's. Manufacturers and importers in Cleveland need access to constant cash flow to run their businesses. Crucial suppliers need to get paid, customers require longer credit terms, and 1st Commercial Credit can help make that happen.
Accounts receivables loans are a financial solution for Cleveland businesses trying to expand their business or make ends meet. Cash flow constraints are one of the primary and most pressing challenges that many companies face. This situation can be stressful and demoralizing. It can also be the cause of forcing some companies out of business.
Accounts receivable financing, or AR financing, is not the same as invoice factoring, which is another financing service 1st Commercial Credit offers. Both types of financing can help your company obtain the money upfront that is currently held up in unpaid debts. Still, the way they work is fundamentally different.
AR financing uses your outstanding invoices as a form of collateral for approval for a loan program or cash advance for your Cleveland business. With AR financing, you don't sell your invoices to a third party as you remain responsible for collecting payments from your customers.
Our supply chain finance solutions offer manufacturers the highest advance rate against the face value of the outstanding receivables. Purchase order financing and trade payable financing are also available for qualified manufacturing plants.
1st Commercial Credit is prepared to evaluate your company's situation and receivables so we can provide the best financial solution for your manufacturing business in Cleveland. We have an extensive array of financial options, making the process for all of them simple.
The economy of Cleveland is primarily based on healthcare and life sciences, banking, financial services, insurance, manufacturing, sports, and tech. The Cleveland metropolitan area is the 33rd largest in the country, with over 2 million people. Another two prominent sectors flourishing in Cleveland are the food industry and advanced materials and manufacturing.
Cleveland offers a combination of factors that make it an excellent location for starting, growing, and relocating businesses. The city has a growing amount of young and emerging talent, entrepreneurs, a loyal and talented workforce to make any business flourish and succeed in Cleveland.
The decreasing unemployment, increasing labor force, and steady rising per capita annual growth are accurate reflections of how Cleveland works. Cleveland continues investing in workforce attraction, retention and training, and the infrastructure needed for business growth. This city is creating an environment where companies will continue to thrive.
The available workforce Cleveland offers is crucial for growth and innovation for businesses. There are 50 universities and colleges in the Cleveland region offering a variety of career opportunities. These institutions contribute a talented workforce for Cleveland and the businesses there.
The City of Cleveland also offers incredible transportation resources. The city has two airports and rail access served by Class 1 and 2 regional carriers. It also has access to water transportation and shipping, thanks to Lake Erie.
Cleveland is famous for its professional basketball or football teams, the Cleveland Cavaliers and the Cleveland Indians. The Rock and Roll Hall of Fame, the world’s largest musical instruments, videos, album covers, and other rock and roll artifacts, is also in Cleveland.
Cleveland sits on Lake Erie, which makes it an incredible attraction of the city. You can enjoy the sunset, sun, swim at beaches, hike lakefront trails, go fishing, rent a paddleboard, boat, or jet ski. Edgewater Beach has become the city’s most popular summer hangout in Cleveland. People can enjoy concerts and have drinks there in the summer months.
Compared to other cities, Cleveland has a population of only 383,000, giving the city an almost small-town feel. Cleveland has over 30 breweries, and Greater Cleveland has around 70, making it another famous attraction in Cleveland.
We are an invoice factoring company with over 18 years of experience providing funding for Ohio and the following cities:
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