Geolocation company covers payroll with a $600K factoring line

AR Funding is proud to welcome this mapping and geolocation service company as one of its newest clients.

AT A GLANCE

Industry: Business services
Location: CO
Company type: Startup
Reason for applying: Accelerate growth
Cash available through factoring: $600,000

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PROBLEM: Without credit, meeting payroll was a challenge

Founded in 2024, this innovative startup helps the oil and gas industry locate and document underground public infrastructure, such as cables for telecommunications, electricity distribution, natural gas, cable television, fibre optics, storm drains, water mains, and wastewater pipes.

The service is labor-intensive and generates significant person-hours, but without an established credit record, the startup can’t qualify for bank loans to cover payroll. This was hampering the startup’s ability to grow.

SOLUTION: $600,000 factoring credit line

The company owner had used factoring in the past, and approached AR Funding to see what was possible for his new business. Because the startup’s main clients are publicly traded, creditworthy companies, AR Funding was able to approve a factoring line of $50,000 per month to cover payroll. Now the startup has a healthier cash flow and can grow the business in terms of revenue and profitability.

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