web statswebsite tracking software Payroll Funding and Cash Flow Through Sales Ledger Factoring

Over 17 Years in Business

Recent Transactions

£100,000

To Small Van Courier providing deliveries in Ireland.

£250,000

To Small fashion importer and exporter

1st Commercial Credit is the only financial answer you need when it comes to payroll funding. Every small to medium sized business has concerns about making payroll as the consequences of delaying or missing payroll can be devastating. With Sales Ledger factoring through 1st Commercial Credit, your company will be assured of making payroll, as long as you keep on generating invoiced sales. All 1st Commercial Credit needs to provide you with stable payroll financing is a steady stream of outstanding invoices to creditworthy clients. We will use those invoices as collateral against cash advances that can go straight into your company's bank account, creating your payroll funding solution.

Your company's sales ledger aging report contains the names of all of your customers and their invoice paying habits. When you put all of your outstanding invoices in one report, you can start to see just how many past due invoices there are and how many of your customers have developed the habit of paying late. It can be frustrating when you notice that many of your larger repeat customers are the ones who keep paying their invoices 30, 60 and even 90 days late. All of this affects your ability to meet your payroll obligations to your clients. You can meet those payroll obligations when you use sales ledger financing options through 1st Commercial Credit.

Factoring Improves Cash Flow Which Makes It Easier To Meet Payroll

To 1st Commercial Credit, the idea behind making payroll on a consistent basis is actually a very simple one. As long as your company is able to sustain a strong cash flow, then you will have the funding you need to meet payroll obligations. But, in the business world, things are not always as simple as they sound. To maintain a solid financial foundation, you need to eliminate past due invoices. You could turn to bank lending, but that would add even more debt to your bottom line and there is no guarantee that bank lending will solve your problems on a consistent basis. The best solution is to use receivables factoring from 1st Commercial Credit.

1st Commercial Credit will use an Internet-based approval system to check the credit status of your customers. We do not use your company's credit score because our decisions are based on the credit profiles of your clients. Once we approve your clients' credit profiles, we work with you to establish the criteria to verify an invoice. As long as the invoice passes the verification process and the client has acceptable credit, we will approve the invoice and advance you the funds you need based on the face values of your invoices. We deduct a small lending fee per invoice, which we disclose upfront. The whole process takes only minutes, and we can advance cash to an approved account in 24 hours or less.

Sales Ledger Factoring Is A Long-Term Payroll Solution

The biggest advantage to utilizing receivables factoring is that it becomes a part of the way your company does business. You will always have invoiced sales and you will always have a need to meet payroll. 1st Commercial Credit has the resources and tools necessary to bring those two together and solve a very big financial problem for your organization. You will always be able to meet your payroll needs as long as you have a sales department that is generating invoices. You will be able to use the financial strength of your company's sales efforts to secure payroll and create growth.

When you start working with 1st Commercial Credit, your receivables aging report goes from being a past due invoice list to becoming a stable cash flow indicator. 1st Commercial Credit is not a bank, so we will not offer the same high costs and red tape that banks offer. We do not have any per invoice or per month minimums and we also do not charge any set-up or facilities fees. We tell you all of your costs right up front and we provide a quality service that has us recognized as being the premier factoring company for small to medium sized businesses all over the world.

Payroll Problems Can Create A List Of Other Potentially Dangerous Issues

Every entrepreneur understands the importance of making payroll on a consistent basis. Payroll is one of those things that employees watch closely, and it is something that employees base a large part of their lives on. Groceries get bought, bills get paid and gas goes in the car on payday. If you miss payday, or there is a delay in payday, then that causes a lot of morale and productivity issues that can be hard to fix. It only takes one delayed payroll date for your employees to start questioning the stability of the company. The fallout from missed payroll can be significant, especially to a small business that relies heavily on each of its employees.

Employee turnover is one of the consequences of payroll issues that many companies cannot afford to deal with. It cost a great deal of money to recruit, train and retain employees. When employees start to bail on the company after payroll issues, then that triggers a drop in morale. The loss of key employees, coupled with a drop in morale, team up to drive down productivity. Your company is no longer getting the cost-effective results from employees that it has become accustomed to and your profit margin starts to drop. In the end, it winds up being more financially beneficial to take the necessary steps to meet payroll than to delay payroll due to past due invoices.

Invoice Factoring Solves The Problem And Preserves Morale

With receivables factoring through 1st Commercial Credit, your company always has the cash on hand that it needs to meet payroll obligations. One of the most difficult lessons a new business owner can learn is just how significant meeting payroll is to the success and future of his organization. Instead of learning that lesson the hard way, you need to contact 1st Commercial Credit and avoid having to deal with that situation at all. We will help you to preserve employee morale and sustain the high level of productivity that you are used to. We will also open up the possibility of paying out bonuses to encourage even higher productivity. When you can meet payroll on a regular basis, your options become much more attractive.

The downfall of many small businesses usually starts with disgruntled employees. A big element in preserving morale is to make sure that payroll is always in place and that employees become comfortable with the way the company delivers paychecks. Payroll is the foundation of any good relationship between employees and employer. If payroll is shaky, then the entire relationship will always be unpredictable and unprofitable. To maintain your payroll, you need to provide the kind of funding that comes from your ongoing invoiced sales. Invoice factoring will turn your outstanding invoices into cash and give you the resources you need to pay your employees on time and in full. It is the best way to create a solid foundation for a good relationship with your staff now and in the future.