case studies : large staffing firm
Client Type: Large, Well-Established Staffing Firm
Challenge: Inflexible Bank Line of Credit
Solution: advance's unlimited, flexible service programs
A large, well-established technology staffing firm had been funding its receivables through a bank line of credit for years. Following a couple of years of a difficult marketplace, the business rebounded in 2003. The firm's bank, however, was still wary of the technology and staffing industries and would not increase the total amount of the loan or the advance rate. Consequently, the staffing firm began to miss potentially lucrative growth opportunities.
advance looked at the history of this client's business, the performance of its receivables, and potential growth opportunities. Within a few business days, advance created an unlimited, cost-effective program that provided the financial flexibility necessary to attack the marketplace. In addition, advance's expert credit and back-office personnel helped to streamline collections and invoicing, freeing up even more resources for sales and recruiting.