STAFFING COMPANY GROWTH HALTED
BY BANK LINE OF CREDIT RESTRICTIONS

In today’s economic climate, banks are imposing ever more stringent restrictions on small businesses, particularly those in the contingent labor market, with no hard assets.  Obtaining alternative funding is critical for growth, as evidenced by this Advance client:

The Challenge:  A rapidly growing staffing firm was experiencing problems increasing their line of credit with a large, well-known, national bank, even though they had been customers in good standing for years.  Without additional financing, the firm would be unable to compete in their marketplace and realize their full growth potential.

The Advance Solution:  The Advance team evaluated the firm’s business history, existing client base, and potential opportunities.  Within one week, Advance funded existing receivables, and provided more than $3 million for additional growth, with another $2 million available as needed.  This cash influx enabled the firm to win multiple national contracts, increasing weekly billings by more than 30 percent.

 “Advance gave us the ability to seize opportunities to take on new business when our bank was simply unable to understand and support our growth potential.  Advance moved quickly to provide us the capital we needed … when we needed it most.”

Current Advance Client
Location:  Chicago, IL
Business Model:  Consulting
Industry Vertical:  Information Technology

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