1st Commercial Credit Receives California Lender License

- 1st Commercial Credit, founded in 2001 and headquartered in Austin, Texas, specializes in invoice factoring and asset-based lending, having provided over $5 billion in working capital to more than 3,800 businesses. The company's CEO is Raul Esqueda Jr. - The company offers a range of services including accounts receivable financing, purchase order financing, and equipment financing, with credit lines available from $10,000 to $10 million. Their invoice factoring rates range from 0.69% to 1.59%, with an expedited approval process that can provide funding within 3 to 5 days. - The California Department of Financial Protection and Innovation (DFPI) is the state's regulatory body for a variety of financial services and products. It oversees state-licensed financial institutions such as banks, credit unions, and non-bank lenders to protect consumers from fraudulent or abusive practices. - The California Financing Law (CFL) requires lenders and brokers for both commercial and consumer loans to be licensed and regulated. This law, which brought consumer and commercial lending under a single legal framework in 1995, provides an exemption from the state's usury provision for licensed finance lenders. - To obtain a CFL license, an applicant must maintain a minimum net worth of at least $25,000 and secure a $25,000 surety bond. - The non-bank lending sector has seen significant growth, with the global private credit market surpassing $2 trillion in 2024. In the U.S., digital loan originations have increased by over 300% since 2017. - California is a major hub for non-bank financial platforms, with nearly three-quarters of the 72 platforms profiled in one study operating in either California or New York. - In August 2025, 1st Commercial Credit launched a national "boots-on-the-ground" sales initiative led by National Sales Manager Norman Brame to build more in-person relationships in key markets.