Staffing startup plans ahead with a $500K factoring line

AR Funding is proud to welcome this staffing startup company as one of its newest clients.

AT A GLANCE

Industry: Staffing services
Location: SC
Reason for applying: Fund future growth
Cash available through factoring: $500K

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PROBLEM: Startup with no credit history needs cash to grow

A former recruiter for a large staffing firm dreamed of going out on his own. After a decade in the industry, he decided the time was right. This year, he launched an agency that leverages AI and other leading technologies to enhance the placement process and ensure the best outcomes for industry professionals and the companies that need their talents. 

While he had the cash to launch the enterprise, he needed additional cash to fund operations. But with no financial track record or credit history, the company didn’t qualify for bank loans or lines of credit.  

SOLUTION: $500,000 factoring credit line

The year before he launched the startup, the owner met a factoring specialist from AR Funding at an industry expo. When he launched his business, he reached out to the company to see whether factoring could help his agency to hit the ground running and ensure smooth operations.. 

We were able to extend a $500,000 factoring line based on the stability and credit-worthiness of the company’s customer base.  

This happy client received financing with help from Crawford Reeves, Regional VP, Southeast Region. Find out how much cash your company can access through invoice factoring. Talk to us.