Established Firm with a $1.5 Million IRS Lien

Years of business and financial experience combined with entrepreneurial spirit and a passion for success empowers the Advance team to create ‘outside of the box’ solutions, just like it did for this client in Dallas, TX.

The Challenge: This established staffing firm was billing more than $400,000 per week. But, with a large tax liability, their existing funding resource asked them to find alternative financing. This established, on-going, firm was close to shutting its doors!

The Advance Solution: Advance's experienced management team learned more about the IRS obligations, and assisted the firm in obtaining additional subordinated debt. Advance negotiated arrangements with the IRS and was able to provide funding services promptly enabling the firm to avoid the, seemingly inevitable, bankruptcy proceedings. On their own, the firm’s negotiations with other lenders and funding sources were not fruitful enough to continue operations. Referred to the company as an independent third party, Advance analyzed the situation, negotiated with multiple parties to secure funding and relieved the IRS burden. Advance invested hundreds of hours in negotiation enabling the firm to continue operations and begin growing again.

“Advance stepped in a just the right moment. We had been working with a half dozen other funders and were unable to find a partner with the creativity and problem solving ability that Advance offered. Within a few months we had additional equity in the company, a payment arrangement with the IRS and we were able to stay in business and prosper. I was very impressed with the knowledge of Advance and their ability to be creative in a difficult situation. Without Advance we wouldn’t be here!”

Current client
7 Years
Dallas, TX