1st Commercial Credit, LLC, a nationwide funding company that specializes in accounts receivable factoring and trade payable financing, has introduced an equipment financing program for various size companies, credit score ranges and industries.
1st Commercial Credit offers financing to clients looking to finance over the road and vocational trucks, manufacturing and material handling equipment, construction equipment, and other quality assets that retain value.
Raul Esqueda, President of 1st Commercial Credit, said, "Equipment finance has always been a great alternative financial instrument for acquiring equipment without using your bank line or cash savings. Our primary equipment finance clients are capped out with their exiting lenders, have challenged credit, or have financial stress due to growth in sales. We cover a very wide credit score range for approvals many vendors and dealerships would appreciate."
Startup Equipment Finance
1st Commercial Credit has a new funding program for companies needing up to $75,000 in equipment finance for startups. For startups less than three months old, a large demand exists for equipment financing among enthusiastic startup business owners. 1st Commercial Credit said leasing and equipment finance companies in the past have ignored business owners with less than two years of business operations. However, 1st Commercial Credit is optimistic in providing financial services to higher risk clients amongst the small business community. Over 60 percent of clients that come to 1st Commercial Credit for funding have less than one year since start-up and 1st Commercial Credit has helped them grow with receivable and trade payable finance programs.
Vendor and Dealer Setup
1st Commercial Credit's primary goal is to set up vendors across the United States with its funding programs. It will also offer clients looking to finance over the road and vocational trucks, manufacturing and material handling equipment, construction equipment and other quality assets that retain value. To keep rates low for clients, the company said it is not accepting brokers in the equipment lease program at this time.
For more equipment finance industry news, visit Equipment Finance Advisor.