1st Commercial Credit, a provider of invoice factoring and payroll funding solutions, completed a $7 million factoring facility for a new client in the staffing industry. This financing will provide the necessary capital to support payroll, operational expansion, and increased client demand.
In response to the increasing demand for travel nurses, the agency has experienced rapid growth, outpacing its cash flow. With this $7 million factoring facility, the agency can now convert outstanding receivables into immediate working capital.
“We understand that staffing agencies rely on steady cash flow to cover payroll and operational expenses,” Raul Esqueda, president of 1st Commercial Credit, said. “This factoring facility provides our client with the financial flexibility to meet payroll demands, onboard new employees, and take on larger contracts without disruption.”
