1st Commercial Credit Offers Factoring Rates for as Low as 0.69%

1st Commercial Credit is currently offering factoring rates for as low as 0.69% to 1.59%. The company is offering financial services that are focused on the convenience of their clients.

Austin, TX (prHWY.com) May 16, 2012 - 1st Commercial Credit is currently having the lowest factoring receivables rates with only 0.69% to 1.59% for days. This offer is probably catered to provide more convenience to their clients. There is no need for financials, monthly minimums, invoice minimums, facility fees, audits, up-front fees and hidden fees.

Also, setting up of account can be done in 3 to 5 working days and after that, the funds will be released in just 24 hours. The receivable credit lines start at $5,000 up to $10 million.

1st Commercial Credit, LLC is known as one of the largest independent providers of asset based financial services. They often cater their services to small and mid-sized businesses. The company offers a complete line of factoring services, equipment leasing, inventory finance, accounts receivable management, purchase order funding and other financial services.

The company is located in Austin Texas and they provide asset based lending and accounts receivable financing for major industries which includes medical providers, importers, exporters, transportation, distributors, manufacturers and service providers.

After the onset of the financial crises more than 3 years ago, a lot of things changed in the lending industry, including commercial banks and asset based lenders. Basically, the lending process became more complicated today compared to the process 3 years ago. Because of the financial crisis, a lot of people and companies failed to pay the lenders. There are companies who declared bankruptcy creating a big financial problem for the lending companies.

This is the main reason why stricter credit criteria and more risk aversion were implemented by lending companies. According to reports, federal regulators are now requiring the commercial banks' loan portfolios to be more diversified.

According to David Wooding, senior vice president with The Columbia Bank, a commercial bank in Columbia with $2 billion in assets, C&I loans are probably replacing CRE and ADC loans in their portfolio. He said that there is definitely pressure in growing their C&I loan base and it is a longer sales cycle.

Business may think that it will be a bit unfair for them if the lending companies will be stricter on their policies and processes. However, there are still a lot of factoring companies like 1st Commercial Credit that offers a more flexible and easy process when it comes to providing financial services to small and mid-sized companies.

The factoring company is attracting clients that expand rapidly that they outgrow their working capital, came from small business start up ventures, experience seasonal sales, lose bank credit lines because of covenant violations, have a large customer concentration, experienced stained cash flow because of slow turnover in receivables, need export receivable financing, credit protection and purchase order financing.

The company strives to provide the best and the easiest way to seek financial services for small business and mid-sized business and help them with the finances that they need.

Check their website - http://www.1stcommercialcredit.com/ for more info.

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Tag Words: companies, factoring company, invoice factoring, factoring companies, factoring receivables

Categories: Finance

Press Release Contact
1st Commercial Credit
9442 N. Capital of Texas, Austin
TX 78759 USA
phone number : 800-876-6071
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