1st Commercial Credit Provides Working Capital for the Biochemical Technology Industry
Accounts receivable financing has been offered as a source of funding to a newly formed biochemical company with synthetic chemistry patents and a projected sales volume of $2.2 million.
El Paso, TX (PRWEB) May 16, 2006 -- 1st Commercial Credit has provided accounts receivable financing for a biochemical company that specializes in defining and delivering advanced chemical and biochemical technologies. These strategic technologies are employed in the design, discovery, delivery, and development of new drugs and are used by the major fortune 500 pharmaceutical companies during the manufacturing process.
According to Raul Esqueda, Founder and President of 1st Commercial Credit: “I am glad that CFO’s and CEO’s are starting to realize the simplicity of our receivable-based financing program. Here is a perfect example of a biochemical company (with years of research and development) with no historical revenues on their financial statements. Despite this fact, they still have access to an initial $2.5 million in accounts receivable financing to fuel their growth.”
1st Commercial Credit establishes accounts receivable credit lines based on the credit worthiness of their clients’ customers. Accounts receivable financing is not a loan; instead, it is viewed as a purchase of the company's invoices. Clients are able to offer net 30-day terms to their customers and still obtain immediate cash as they generate invoices.
The working capital provided will increase, as needed, in order to sustain exponential growth. 1st Commercial Credit can provide receivable-based credit lines up to $10 million.
For more information, visit: www.1stCommercialCredit.com
1st Commercial Credit of El Paso, TX, provides accounts receivable financing in the US, Canada, and the UK and offers export trade financing to clients in every major world market. They are also able to convert receivable finance transactions in 17 currencies.
US and Canada Tel 1 800 450 9653
United Kingdom Tel 0 800 404 9669
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