MCLEAN, Va., May 23, 2025 /PRNewswire/ — Trace Systems Inc. is proud to announce its designation as an authorized reseller of Starlink high-speed internet for businesses, enterprises and government use.

“Working with Starlink represents a transformative step in advancing secure communications capabilities for our customers,” said Otto Hoernig III, CEO of Trace Systems. “Integrating Starlink into our service portfolio enhances secure, high-bandwidth connectivity and enables scalable, real-time collaboration across enterprise and edge environments.”

As a trusted satellite integrator for the Department of Defense, Trace brings decades of experience and an extensive portfolio of contract vehicles as well as industry and government partnerships. The company will now leverage Starlink’s resilient global connectivity to bolster communications across multi-domain operations delivering greater capabilities to the bandwidth constrained operator — anywhere in the world.

About Starlink

Starlink delivers high-speed, low-latency internet to users all over the world. As the world’s first and largest satellite constellation using a low Earth orbit, Starlink delivers broadband internet capable of supporting streaming, online gaming, video calls and more. Starlink is engineered and operated by SpaceX. As the world’s leading provider of launch services, SpaceX is leveraging its deep experience with both spacecraft and on-orbit operations to deploy the world’s most advanced broadband internet system. Learn more at www.starlink.com.

Follow Starlink on X https://x.com/Starlink 

About Trace Systems

Trace Systems delivers advanced information technology and communication systems and solutions to the U.S. Government, specializing in secure, mission-critical systems that enable global operations. With a proven track record of innovation and operational excellence, Trace provides the engineering expertise and technical leadership required to meet today’s complex defense challenges. Learn more at www.tracesystems.com.

For media inquiries, please contact:

Email: mediarelations@tracesystems.com

Phone: 703-414-3500

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SOURCE Trace Systems Inc

New revolving receivable-based facility fills critical lending gap for mid-market companies facing limited ABL and bank loan options

AUSTIN, Texas, May 23, 2025 /PRNewswire/ –1st Commercial Credit, LLC, a national leader in accounts receivable financing, trade payable finance, and invoice factoring, announces the launch of its new Ledger Lines program—providing revolving credit facilities of up to $20 million, backed by receivables and tailored for high-growth businesses.

With Ledger Lines, businesses generating at least $3 million in monthly invoices can access up to 90% of receivable value as working capital. The structure avoids traditional debt by documenting the facility as a continuing receivable purchase, providing fast and flexible funding without complex loan covenants.

“Ledger Lines are designed for companies that are too big for traditional factoring but not well-served by bank lending or rigid ABL structures,” said Raul Esqueda, President of 1st Commercial Credit. “By working in partnership with banks and advisors, we’re helping companies replace high-cost debt and unlock working capital without disrupting their existing financial relationships.”

Key Benefits of the Ledger Lines Program:

Credit lines from $3 million to $20 millionUp to 90% advance on eligible receivablesFunding in as little as 3 weeksNo traditional debt added to the balance sheetBanks may subordinate receivables while maintaining existing term loansOptional credit insurance to reduce riskAvailable to industries such as manufacturing, staffing, transportation, security, and importers

The company reports growing demand from investment bankers, restructuring advisors, and bank workout departments who are turning to 1st Commercial Credit to support clients with cash flow constraints, MCA obligations, or seasonal volatility. Ledger Lines enables a seamless transition from high-cost loans and unscalable ABL products to receivables-based funding that grows with the business.

To qualify, companies must maintain up-to-date financials, demonstrate profitability, and have a Chief Financial Officer overseeing internal operations. A Deposit Account Control Agreement (DACA) is also required to control receivable proceeds.

Solving the $3M–$10M ABL Gap

With many traditional asset-based lenders pulling back due to rising defaults and low margins, businesses in the $3M–$10M range are often left with few viable financing options. According to Esqueda, the complexity and cost of underwriting ABL deals at this size often exceed the returns.

“Ledger Lines provide a scalable alternative to ABL,” said Esqueda. “We remove the bottlenecks of traditional credit underwriting and give clients a funding solution that adjusts with their receivable base—not their collateral mix.”

Backed by Technology and Trade Credit Protection

Ledger Lines builds on 1st Commercial Credit’s $6 billion funding milestone achieved in 2024, and its $200 million in receivables insurance coverage. The program is powered by the company’s proprietary MyBizPad® platform, which automates funding requests, and real-time receivables tracking—ensuring operational efficiency and transparency for clients.

Contact Information:

1st Commercial Credit, LLC
6500 River Place Blvd, Building 7, Suite 250, Austin, TX 78730
(800) 876-6071
www.1stcommercialcredit.com

About 1st Commercial Credit

Founded in Austin, Texas, 1st Commercial Credit, LLC is a privately-owned factoring company, a leader in receivable-based financing, purchase order financing and trade payable finance. Serving businesses across the U.S. and select international markets, the firm specializes in non-debt capital solutions for manufacturing, staffing, transportation, and importing companies—empowering businesses to scale without traditional borrowing.

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SOURCE 1st Commercial Credit, LLC

NEW YORK, May 23, 2025 /PRNewswire/ — Xtraspots, the fast-growing platform revolutionizing smart parking and mobility, announces the launch of Xtraspots v2, a revamped Hybrid Parking Platform designed for both commercial garages and residential hosts. Whether it’s a high-traffic lot or a homeowner’s spare driveway, Xtraspots enables users to list, manage, and monetize their parking spaces with ease.

Set to launch this June, Xtraspots v2 will be available on both the Apple App Store and Google Play Store, offering drivers a faster, more intuitive experience to find, reserve, and pay for parking in real time. The redesigned interface simplifies navigation and expands earning potential for everyday property owners.

Alongside the app release, Xtraspots is introducing a new Point-of-Sale (POS) system with integration to Elavon and other leading payment processors. The POS solution is designed to provide secure, scalable, and cost-effective transaction support for parking operators across both residential and commercial environments.

Key features include:

Dual pricing support for compliant cash and card rate structuresReal-time analytics and full control over processing feesFast onboarding for both individual hosts and commercial garage operators

“Our hybrid model democratizes access—to parking, to payments, and to passive income,” said Charles Sepulveda, Co-Founder and Chairman of Xtraspots. “With the launch of our new app and expanded POS integrations, we’re not just providing parking—we’re building a smarter, more inclusive ecosystem.”

“I have all five of my garages on the Xtraspots platform—with more to come,” said George Cabrera, owner of GC Garage at 310 Grand Concourse in the Bronx, NY. “It’s user-friendly, and the POS system cut our processing fees significantly. This has opened up new income potential for my business while keeping everything organized in one place. The support of the Xtraspots team has been amazing—they’re always just a call or email away, something I didn’t have before.”

Media inquiries, partnership requests, or early access:
sales@xtraspots.com
www.xtraspots.com

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SOURCE Xtraspots Inc.