Business Capital Structures and Secures $3MM Credit Facility for Provider of IT Staffing Services & Solutions
The Company is a leading provider of integrated IT support systems to US firms by supplying skilled technology specialists to augment existing staff. The firm offers a broad range of IT support and consultants across a wide array of industries for companies requiring additional support or solutions in new or change situations including: projects; design and/or development; roll outs; system implementation; and workflow consolidation and/or re-design.
The Company, based on the west coast, was planning to expand nationally and needed a scalable line of credit to support its growing working capital needs. The Company had considerable concentration with three of its largest customers and their incumbent lender was no longer advancing on their Accounts receivables.
Business Capital was able to understand every aspect of the business, its goals and challenges, to customize an optimal financing solution and deliver a $3 million accounts receivable line of credit for the company to support its plans for new client acquisition and growth.