AUSTIN,
Texas, April 17, 2024 /PRNewswire/ -- 1st
Commercial Credit, LLC is excited to announce the launch of its new
affiliate, Nationwide Commercial Credit, Inc. This Texas-based firm is dedicated to enhancing the
financial operations of the trucking industry through advanced cash
flow solutions on receivables and fuel advances. Nationwide
Commercial Credit will provide specialized Non-Recourse White
Gloves Factoring and Fuel Advance Services to a diverse range of
trucking companies, from individual truck operators to extensive
fleets.
Nationwide Commercial Credit will provide
Non-Recourse Factoring and Fuel Advance Services to trucking
companies.
This state-of-the-art financial service offers
unmatched non-recourse credit protection against the insolvency of
freight brokers and shippers, covering even those non-payment
scenarios typically not included in traditional factoring
agreements. With this service, trucking companies can secure their
receivables from bad debt, thereby bolstering their financial
health and fostering growth by ensuring consistent cash flow
regardless of company size.
To bolster this initiative, 1st Commercial Credit
has increased its Trade Credit Insurance by an additional
$36 million, elevating the total
protection to $206 million. This
expansion supports the new trucking-related receivables managed by
Nationwide Commercial Credit and its affiliates.
Raul Esqueda,
President of Nationwide Commercial Credit, highlights the specific
challenges faced by small trucking firms: "Supporting small
trucking operators can be demanding without the right systems and
technology in place. They require quick access to funds with
minimal paperwork, a need our system addresses by enabling funding
with just a rate confirmation and bill of lading, and even
automates invoice generation for the trucking company. We also
offer online credit checks for brokers, fuel advances, fuel card
discounts, and mobile uploading capabilities. For larger fleets, we
enhance operational efficiency through QuickBooks and TMS
integrations that streamline the upload process."
Referral Partners Program
Nationwide Commercial Credit is delighted to
introduce a new referral program designed for financial
consultants, finance brokers, dispatchers, freight brokers, and
trucking companies. This program offers a new stream of commission
income for partners who refer trucking clients, including those
with only one truck. It aims to address the service gaps faced by
small truck operators often deemed unprofitable by other factoring
firms, thus providing essential services to these entities and
rewarding our partners. For more details about the referral program
or to refer a client, please visit our Referral Program Page
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SOURCE 1st Commercial Credit, LLC