El Paso, TX (PRWEB) January 5, 2006
Collecting payments from companies in other countries involves risk and requires credit expertise. U.S. exporters, who are reluctant to extend credit to overseas customers, may lose a significant sale to their competitors. In the past, only large corporations had access to competitive financial services and cost effective credit protection, collections and receivables management.
Due to the demand, 1st Commercial Credit now offers finance services to small or mid-sized businesses. These services enable their clients to effectively compete with large corporations around the world. U.S. exporters can now receive timely credit analysis, get credit insurance for just one client or on a per transaction basis, obtain receivable finance in a cost efficient way and request collections in local trade currency.
According to Raul Esqueda - President of 1st Commercial Credit - “Small and mid-sized enterprises (SMEs) had no way of financing export receivables in a cost effective way. Most banks are unable to evaluate the credit worthiness of international customers, establish credit risk, and determine export receivables to be ineligible against the borrowing base. In addition to the lack of finance, SMEs are also required to pay large premiums for credit insurance. This made the single debtor transaction almost impossible to achieve. Now there is an answer for small or mid-size companies who want to finance and manage their international receivables”.
Unlike most commercial finance companies, 1st Commercial Credit provides funding against the assets that most banks and asset based lending institutions do not consider - the International Receivables. This financial service enables them to help banks and commercial finance companies by facilitating receivable funding for clients who are experiencing growth in international sales. Banks can confidently refer clients to 1st Commercial Credit because they do not compete with their core business.
1st Commercial Credit, headquartered in El Paso, TX, provides accounts receivable financing in the US, Canada, and the UK; offers exporting trade finance to clients in every major world market and can convert receivable finance transactions in 17 currencies.
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US and Canada Tel 1 800 450 9653
United Kingdom Tel 0 800 404 9669