Windshield replacement company funds growth with a $500K factoring line
AR Funding is proud to welcome this auto services company as one of its newest clients.
AT A GLANCE
Industry: Auto services
Location: AZ
Company size: ~$39 million annual revenue
Reason for applying: Rapid growth
Cash available through factoring: $500,000
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PROBLEM: Lengthy payment cycles tied up cash
Founded in 2012, this specialized windshield replacement and repair company had developed the best systems, procedures, and controls in the business, and had become the service provider of choice to insurance companies.
Despite their success and tremendous growth potential, the company couldn’t find the cash needed to continue growing. With 75% of their accounts receivable remaining unpaid for 90 days or more, finding the cash to make payroll and pay suppliers was a constant challenge.
SOLUTION: $500,000 factoring credit line
The company had used invoice factoring in the past, but chose to work with AR Funding this time because of the highly favorable rates. With a factoring line of half a million dollars, this auto services company now has the resources needed to exploit their many opportunities to grow.
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.
