One of our recent clients has several high-profile clients in financial, government, insurance, manufacturing, publishing, and technology sectors. Like any other company, they were interested in additional growth but they lacked the cash necessary to pursue that growth.
Capstone worked with the company to identify the issues they were facing, evaluated their immediate and their long-term needs. Capstone determined the best solution was a 2-year factoring facility and proceeded from there. The outlook for this company is vastly improved; they have been able to pursue new business, and as a result, Capstone has expanded our business with them.
BACKGROUND
- Incorporated in 2004, the company has continually offered software development, IT Solutions and Staffing to several clients in the USA
- Factored receivables the period ending 2015 were $2.4 million with sales for fiscal 2016 projected to increase to $2.6 million
COMPANY CHALLENGES
The company lacked cash flow to pursue growth and was unsure how to meet increased payroll demands.
CAPSTONE’S SOLUTION
- Capstone provided a 2-year Factoring Facility so the company could meet its payroll requirements and increase business
PROGRESS & FUTURE OUTLOOK
- This solution was a great success for both the owner and Capstone leading to repeat business
- The company is confident it can bid on larger jobs even those it does not have capital for
- Capstone looks forward to assisting the company in the future and fueling their growth
