Facility maintenance company secures payroll with a $400K factoring line

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

AT A GLANCE

Industry: Facility Maintenance
Location: DC
Company size: ~$1M annual revenue
Reason for applying: Payroll challenges
Cash available through factoring: $400K

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PROBLEM: Payroll was a weekly headache

Established in 2014, this veteran- and minority owned staffing company delivered general maintenance, janitorial, electrical, plumbing, carpentry, painting, HVAC, and landscaping services to commercial properties and facilities. With invoicing on a 30-day cycle and payroll due every week, the company experienced a cash crunch every time its book of business expanded. 

The owner needed to find an affordable source of financing that could help him grow the business without constantly worrying about how to make payroll.

SOLUTION: $400,000 factoring credit line

The business owner’s financial advisor recommended invoice factoring as a lower-cost, debt-free means of accelerating cash flow, and introduced the owner to AR Funding as a trusted, reputable factor. 

Based on the credit-worthiness of the company’s main clients, AR Funding was able to offer the owner a factoring facility of $400,000. Now this specialty factoring company can confidently pursue new contracts, knowing that payroll funds will always be there. 

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