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Receivable Factoring - Canada
1st Commercial Credit is the premier receivable finance organization in Canada and around the world. What does that mean for you and your company? It means that of all the receivable factors you could choose from, your best bet is a company that understands your business and has an international network of affiliates that can be used to your advantage when the time comes for your business to go global. Receivable financing can be a huge part of your company's success and it should be one of the key elements of your financial process.
We Make accounts receivable financing a Simple Process!
Why can 1st Commercial Credit say that we are the best at financing receivables in Canada and the world? We are the best because we offer low fees, no hidden fees, our process is transparent to your employees and your customers, and we have spent years becoming familiar with the challenges found in your industry. Factoring receivables is much more than just advancing you funds for the face values of your invoices. It is a reliable business line of credit that your company can utilize to meet payroll and move the organization forward. Accounts receivable factoring removes all of the guess work from finance and gives your company the confident cash flow it needs now and in the future.
1st Commercial Credit Has Accounts Receivable Financing Experts
With some Canadian factoring companies, your phone call is answered by an associate reading information from a script. It is that kind of unreliable service that will not give your company the financial options it needs to succeed. When you contact 1st Commercial Credit, you will get an experienced professional on the phone who will be able to explain our programs and work with you to find a program that works specifically for your company. 1st Commercial Credit offers customized and professional service to each and every one of our Canadian clients.
1st Commercial Credit has a full staff of professionals that are constantly working on making our offerings better and more efficient. When it comes to your company's finances, you should never take any chances. We invite you to check out our reputation with our Canadian clients and around the world. We can even provide you with referrals to customers who will tell you all about their experience with 1st Commercial Credit. We insist that every client does his homework before filling out our online application because that bond of trust between 1st Commercial Credit and your company makes our job easier.
- Financing Rates at 0.69% - 1.59%
- No Financials - No monthly minimums - No invoice minimums
- No facility fees - No audits - No up-front fees - No hidden fees
- Set up account in 3 to 5 working days - 24 hr funding thereafter
- Credit Lines starting at £5,000 & up to 10 million
- Optional Libor & Admin fee
- Customer referrals upon your request
- We Make Same Day Decisions
Call Now 1 844 422 6658
Canadian Receivable Factoring Is How You Improve Cash Flow
Your receivables is the list of invoices you have outstanding to your clients. Once you receive payment, then you can use that payment to pay your own bills. Your company's cash flow is dependent on whether or not your customers pay their bills on time. For a small to medium sized business, slow cash flow can be a huge problem. The past due invoices that pile up on your aging report have a detrimental effect on your receivables. Instead of having the cash flow you were counting on through invoiced sales, you have cash problems because customers are just not paying on time.
1st Commercial Credit steps right in the middle of that equation and acts as the catalyst to improved cash flow and a strong financial foundation for your organization. We will advance you cash against the face values of your invoices, minus our small processing fee per invoice, and then make sure that the remaining balance gets to your account quickly. We can get you your cash on or before the invoice due dates, in the case of invoices that are not yet due, or we can advance you cash within 24 hours for past due invoices. That is what a factoring company does, and 1st Commercial Credit has been doing this service for clients for years.
1st Commercial Credit Is One Of Those Factoring Companies That Belongs In Your Financial Process
Every Canadian small to medium sized business has a process it follows when it comes to invoices. The sales department makes the sale, collects the purchase order and then turns the purchase order over to the receivables group. The accounts receivables department generates an invoice and then adds the invoice to the aging report. Then the accounts receivables group follows each invoice until they are paid and generates the company's cash flow projections based on invoice due dates. Those projections are what the company uses to schedule payroll deposits and vendor bill payments.
The challenges start when clients allow their invoices to go 30, 60 or even 90 days past due. The receivables group was counting on that cash to be available to the accounts payable department and the payroll group. When that money is not there, the company must fill in those past due invoices with bank borrowing. But when 1st Commercial Credit is inserted into the equation, the cash from outstanding invoices will be in the company's account when it needs to be and there will be no need to utilize a bank. The receivable finance option saves your company money, hassles and the complications that can come from missing a payroll deposit or paying a vendor bill late.
1st Commercial Credit Prevents Your Company's Reliance On Bank Borrowing
Receivable financing through 1st Commercial Credit provides you with the sustainable cash flow you need to meet all of your ongoing financial obligations. You can get the payroll deposit in on time, you have cash for equipment maintenance and repair, you can cover immediate business expenses, and you can pay your vendors on time as well. If you did not have a program through 1st Commercial Credit, then you would be forced to take out a bank loan or use a bank line of credit to meet your obligations. Any Canadian business owner will tell you that relying on a bank to fund your company is not a sustainable option.
Bank funding is going to eventually run out on you. The bank will determine, at some random point, that your company no longer qualifies for loans or extended credit and the bank will stop your funding. In the meantime, your company is paying recurring interest charges on loans and credit payments that were used to meet one payroll deposit that happened months ago. The interest keeps making the debt larger and you find yourself paying a lot more for that payroll deposit than you had bargained. When you are factoring receivables through 1st Commercial Credit, none of the bank funding problems exist.
1st Commercial Credit Makes Corporate Funding Easy
With an accounts receivable financing plan through 1st Commercial Credit, your company does not have a limit on how much it can borrow. Since we are using your invoiced sales as the collateral on your cash advances, we can continue to provide you cash as long as you are invoicing customers for products and services. Not only that, but we can also increase your available cash flow as your invoiced sales go up. That is definitely not something that a bank would be able to do on short notice. We allow you to decide the strength of your cash flow and we work with you to make sure that you always have cash on hand.
1st Commercial Credit does not charge set-up or facilities fees, we have no hidden fees, and we also have no per month or per invoice minimum criteria that you have to meet. Our programs are designed around your business, which is much easier for you than trying to maintain standards for your bank funding. It only takes us three to five business days to approve and set up your active account. With that active account, we can advance cash on or before invoice due dates. If you have a stack of creditworthy past due invoices, then we can get you that cash in 24 hours. There is no catch and there are no surprises. We give you all of our fees and charges up front and we stick to the program we created.
We Are A Canadian Receivable Factoring Company That Helps Those Who Need It The Most
Is your company's credit history preventing you from getting the kind of financing you need? Canadian small businesses work hard every day to try and grow their businesses while also meeting the growing demands of clients. There comes a time when Canadian business owners have to choose between making payroll or paying vendor bills. The obvious choice here is to make payroll, which means that the company's credit score suffers. Your company is doing the right thing in standing by your employees, but your vendors want their money and your late payments are causing problems with your company's financial future.
What if you are a start-up? As a start-up, life can seem great for the first six months or so because you have your initial funding to pay for operations. But when those first six months are up, your investors want to see results and the bank will not lend you money because of your almost non-existent credit history. You have a receivables report that should be able to pay all of the bills, but that aging report and its past due invoices create cash flow problems that are only going to get worse. Pretty soon, Canadian start-ups find themselves facing the prospects of selling off assets to meet financial obligations, or closing their doors for good.
Receivable Factoring Offers Funding When No One Else Will
1st Commercial Credit offers funding to the Canadian companies that banks turn away. Your credit rating has no bearing on whether or not we approve your account. Accounts receivable financing through 1st Commercial Credit is based on the credit strength of your clients. If you are like most Canadian business owners, then you take a great deal of care when it comes to approving credit lines for clients. When the time comes to take advantage of accounts receivables factoring, your diligent work will pay off because your clients stand a better chance of being approved.
Start-ups are also very welcomed with 1st Commercial Credit. Just because the bank won't fund your start-up due to its credit history does not mean that you cannot get the financing you need to grow your business. 1st Commercial Credit has a strong history of working with Canadian start-ups and helping them to create a reliable cash flow that allows their businesses to grow. The accounts receivable factoring model that 1st Commercial Credit uses is perfect for start-ups because it encourages growth while rewarding hard work. The more your start-up brings in with invoiced sales, the more funds that we can make available to your organization. It is a relationship that grows along with your business.
Receivable Factoring Is There That Moment When You Realize That Growth Has Its Pains
We have all heard about corporate growing pains, but it takes a lot of hard work to experience those pains. Corporate growing pains are not the kinds of frustrations that are associated with being unable to pay your corporate bills due to an unreliable cash flow. Real corporate growing pains come from that moment when you look at your aging report and realize that your company's growth may be outpacing your cash flow. You need money from your invoices right now if you want to be able to keep up with customer demand and maintain that pace of growth for your business.
1st Commercial Credit is the solution you need when you get to that point where your own success could undermine your operations. We have the kind of factoring programs you need to get cash right away and meet your growing customer demands. We can work with you on the invoices that you have generated and the purchase orders you have accepted from your growing roster of clients. Canadian small business owners who are unprepared for this level of success sometimes face the possibility of turning business away because they cannot finance their own growth. With help from 1st Commercial Credit, your small business can turn that success into the positive catalyst for the future that it is supposed to be.
Getting Involved In An Accounts Receivables Financing Program Is Easier Than You Think
It is understandable when Canadian small business owners become jaded at the thought of getting involved in a finance program. The process that a bank puts a business owner through can be frustrating. Each time financing is needed, the business owner needs to submit a new application even though the bank already has the information on file. Once the application is submitted, there is the red tape and delays that come with the administrative process of review. It could be days, or even weeks, before a Canadian business owner gets an answer on his bank funding application. By the time the answer does come back, it is usually for an amount that is less than what the owner applied for and that sets the company back even further.
1st Commercial Credit understands that Canadian small business owners do not have time to waste with red tape of false hopes. We disclose all of our fees to you up front and let you know everything that goes into our process. You only have to fill out one application to use our accounts receivable factoring service, and that one application will allow us to provide you with years of service. With 1st Commercial Credit, you know how much cash your company will be getting because it is on your invoices. We have nothing to hide and we make sure that the process is as easily and painless as possible. We know how frustrating bank red tape can be, which is why we removed it from our process.
Canadian Small Business Owners Need To Investigate Factoring As A Finance Alternative
How frustrating is it when your small business works so hard to generate invoiced sales, but then you are told by traditional lenders that those invoices are useless until they are paid? It can seem like all of the hard work you and your staff have done over the years was almost for nothing. You should be able to utilize those invoices as assets because, in the end, they represent the cash flow that will keep your company in business. But if all you ever use is traditional lending options to help fund your business and fill in the holes that are created by slow cash flow, then you will have to deal with that frustration over and over again.
1st Commercial Credit considers your invoices to be very real company assets. They are such real assets, that we are willing to use them as collateral against the cash advances that will stabilize your cash flow position. We respect and appreciate the hard work that goes into your invoiced sales. It takes months to finally break through on a new customer and it is a lot of hard work to get repeat business from your existing customer base. 1st Commercial Credit considers the vast majority of your company's financial strength to be in your outstanding invoices and we feel it is our job to put that financial strength to work in your favor. We are not a bank and we are not a traditional lender, but we are the one solution your company needs to succeed.
With Accounts Receivable Financing In Place, The Future Looks Bright
Think about all of that your company could accomplish if you were to maximize your cash flow. Think about how much extra cash you would have if you were able to meet your payroll obligations and pay vendor bills without having to borrow from a traditional lender. With all of your bills paid and cash in the bank, you could get back to planning those growth projects that are laid out in your business plan. When you wrote that business plan, you had a vision in your head of the kind of company you wanted to create, but reality and past due invoices put that vision on hold. Invoice factoring allows you to breathe life into those plans and get back to growing your business.
Once 1st Commercial Credit is part of your financial process, you will never have to worry about your cash flow being optimized. You would simply treat us like a part of your company and then benefit from your persistent cash flow. As you feed us your invoices, we supply you with a stable cash position. It does not get any more complicated than that. Once your account is approved, we put the wheels in motion that will drive your company to new heights of success. 1st Commercial Credit has been helping out Canadian small to medium sized business for years and we know that we have the factoring solution that fits your needs.
Get The Jump On Your Competition By Having A Sustainable Cash Flow
A good Canadian small business owner spends a lot of time trying to make the right decisions. When it comes to finances, those decisions are rarely easy. But there is a way to enhance your cash flow and get the most from your invoiced sales that is actually quite easy to implement and use. An accounts receivable factoring plan from 1st Commercial Credit will turn your outstanding invoices into the operating capital you need. If you have past due invoices, then our program can turn those invoices into cash in just 24 hours. All you have to do is make the decision to get started with 1st Commercial Credit today.
Check out our website and give our professional associates a call. If you are ready to take the first step, then complete and submit our online application today. We will review your application and give you and answer that same day. We know that you do not have time to wait for success, which is why we work so hard to make sure that you get the success you deserve. Put your financial strength to work for your company today and call 1st Commercial Credit.
Call Now 1 844 422 6658
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