1st Commercial Credit vs. American Receivable
Both serve staffing agencies and manufacturing and healthcare & medical and oil & gas and distribution & wholesale. Here's how their published terms compare. "Not published" means we couldn't find the figure on the company's own site.
Terms side by side
| 1st Commercial Credit | American Receivable | |
|---|---|---|
| Advance rate | 75%–98% by industry; trucking 100% with no reserve [source] | Up to 95% [source] |
| Factoring fee | 0.69%–4% (average client about 2.25%); trucking 1.5%–3% [source] | From 0.8% [source] |
| Recourse | Non-recourse (trucking program) [source] | Recourse and non-recourse [source] |
| Contract length | Not published | No long-term contracts [source] |
| Minimum volume | From $10,000 a month [source] | No monthly minimums or maximums [source] |
| Funding speed | Within 24 hours of verification; first funding 3–10 business days [source] | Wired the morning after an approved invoice is submitted; setup in 3–5 days [source] |
| Fuel program | Fuel advance up to 50% of the load for an added 1% [source] | Not published |
| Credit checks | Free broker credit checks for trucking clients [source] | Free Dun & Bradstreet and Experian reports [source] |
| Founded | 2001 [source] | 1979 [source] |
| Headquarters | Austin, Texas [source] | Richardson, Texas [source] |
| Advertised features | Non-recourse, Same-day funding, Fuel advances, No minimum volume, Free credit checks | No long-term contract, Non-recourse, No minimum volume, Spot factoring, Free credit checks |
Terms are negotiated. The only way to know what you'd pay is to get quotes for your volume and customers.
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