One of our recent clients is a Pennsylvania-based non-profit advocacy organization dedicated to improving the futures of children in foster care. The client’s mission is to provide a safe and caring home for all at-risk children in foster care in the Philadelphia, PA region. The organization also provides food, clothing and therapeutic services to households of up to six children.
Background
- Philadelphia, PA-based non-profit organization that fosters and assists with the adoption of children
- Focuses on troubled children who have been fostered in multiple homes in an effort to give them stability
- Owners of the company have fostered over eight children personally
Company Challenges
- As a non-profit organization, the Client had a very difficult time obtaining financing
- Wanted to expand and open additional homes for boys and girls so they could foster more children and get them adopted
Capstone’s Solution
- Provided a single invoice financing program allowing them to obtain funding through their invoices as they needed to with no annual commitment
- Increased the advance rate to 80% to help the client access cash quicker
Progress and Future Outlook
- The Client has opened one additional home since we began working together for girls and has plans to open an additional home for boys later this year
- Invoices have been increasing as they foster and tutor additional children, thereby creating more cash flow for them to continue expanding
