AUSTIN, Texas, April 17, 2024 /PRNewswire-HISPANIC PR WIRE/– 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.
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
