7/31/2023 0 Comments Houston invoice factoring company![]() ![]() ![]() Known as the largest city in the South and ranked the country's fourth-largest city, Houston is synonymous with oil refineries and all that is energy-based. If your business growth is making you run out of your operating capital, 1st Commercial Credit can help your business and get you back on your feet in no time.Īs Houston Grows, 1st Commercial Credit Delivers the Funds to Manufacturing The major metropolitan areas are experiencing strong growth, which leads to more economic activity and the need for funding alternatives. On a positive note, factoring companies in Houston can provide financing alternatives to solve all cash flow-related troubles that businesses face today. Angel investors and venture capitalists can be challenging to find and, if they are willing to invest, often attach undesirable terms to the capital they offer. Many companies in Houston have trouble getting loans from traditional banks, and those in rural areas have limited options unless they get in a car to travel into the city. Financing the expansion or launch of a business requires a good amount of money, but it can be extremely challenging for entrepreneurs to find the cash they need in Texas. Quality of the invoice supporting documentation (customer portal, contracts, etc)įor starters, we will ask to review your accounts receivables aging report, copy of an invoice, along with its supporting back up documentation (contract, purchase order, bill of lading, etc.)Ĭall 93 or click here to schedule a free 15-minute consultation or click here to apply now.Is Your Houston, Texas (TX) Business Outpacing Its Operating Capital?ġst Commercial Credit helps small business owners in Houston, Texas by offering invoice factoring services, short term transactional funding, purchase order finance and many other forms of working capital and supply chain finance solutions.Ī big challenge for small businesses in Houston, particularly startups, is having sufficient access to capital. Time and effort it takes to verify your invoices for payment Volume of invoices that you would like to factor Here are a few factors a finance company will take into consideration Generally speaking, you are looking at an (all-inclusive) average fee of 2% to 3% for 30 days. Pricing will vary for invoice factoring because there many components that are factored into the equation. Generally, a B2B (business to business) owner that has qualifying accounts receivables (unpaid invoices) for goods or services provided to strong customers that they have written terms with (contract, purchase order, bill of lading, etc) and have a payment history of a net 30-60-90 days. Manufacturing, Distributors (including PACA), etc. Oil and Gas, Temporary Staffing, JanitorialĬonstruction, Contractors, Fiber Optics, Cable, Telecommunications Here are just a few examples:Ĭommercial and Industrial Service Providers (welding, machinery, piping, electrical) There are many B2B (business to business) companies that utilize factoring. Pay administrative fees (taxes, legal, or other fees relating to running a business) Meet payroll deadlines, pa y suppliers on timeĮxpand your business (marketing fees, hire new employees, take on larger orders) ![]() Here are a few examples of how factoring can help your business: You pick and choose which invoices you want to use for funding. ![]() Invoice factoring provides your business the flexibility of obtaining fast cash when you need it. Your unpaid invoices are an asset - so why wait to get paid? Start-up businesses and sole proprietors may also apply. No minimums (FICOS, time in business, volume) Invoice factoring is NOT a loan therefore you do not incur any debt nor make any payments!įactoring is very easy to qualify for because a great deal of weight is based on the strength of your customer.Īccess $10,000 to $10,000,000 limits (up to 95% of invoice value) Funds are generally advanced directly to the business bank account electronically within 24 hours of the request. In return for the sale of the invoice, the finance company provides the business access to a credit limit. Invoice Factoring is a financial transaction that consists of a business selling its accounts receivables (unpaid invoices) to a financial institution at a discount (fee). ![]()
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