Commercial finance jobs center on helping companies acquire financing for startup, operations and expansion of their business. Funding or financing could take any of the following forms:
- Invoice factoring
- Purchase of order advances
- Advances on credit card receipts
- Secured working capital credit lines
- Inventory flooring financing
- Franchise financing
- Import/export letters of credit
A commercial finance job entrusts you with the big responsibility of ensuring the creditworthiness of the company for which you are securing a loan.
Commercial Finance Jobs: Sectors
Commercial finance jobs are available in the following sectors:
- Banking
- Audit
- Tax
- Strategy
- Project Management
- IT and Consultancy
Commercial Finance Jobs: Tips
If you are interested in commercial financing jobs,
- Get at least a four-year degree. Most companies prefer candidates who have a college degree for any type of commercial finance job. A degree in business or accounting could help your resume move to the top of the pile.
- Ask for an informational interview. If you are unsure about careers in commercial finance, ask someone in the industry. An informational interview with this person can give you an insight into the job requirements and what you would be doing on a daily basis.
- Do not hesitate to start from an entry-level position.
Various Commercial Finance Jobs
Some of the common commercial finance jobs and functions are:
Commercial Finance Manager: Apart from the basic function of arranging finance for the company, you will need to handle:
- Customer acquisition and retention processes
- Reporting functions
- Providing analysis and commentary on performance
- Identifying risks and margin opportunities
Your contribution to the development of these processes will directly impact your growth in the business.
To be qualified for this post, you must have experience in:
- Process development
- Reporting and management of a team of finance professionals
You could also select a job that handles any of the following functions:
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Account Receivable Factoring
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Using A/R and invoices to obtain short term working capital loans rapidly and cost effectively.
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Asset Based Loan
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Seeking to convert company assets into working capital.
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Bankruptcy Reorganization Financing
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Financing to reorganize a company in a turnaround. Typically secured by assets such as equipment, inventory, A/R and POs.
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Expansion Financing
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Obtaining loans for growth that has outpaced existing business.
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Import and Export
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Obtaining loans to promote shipping or receipt of products or materials, based on the existing market, demand or orders.
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Inventory Loan
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Obtaining loans as part of a relationship where the lender will also provide retail financing for the product.
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Purchase Order Financing
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Seeking loans on the written order to purchase goods at a stipulated price with an agreed upon delivery date.
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Secured credit line
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Getting loans for the financial flexibility of your business.
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Merchant Account Advance
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Getting an advance against regular occurring monthly merchant credit receipts.
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