One of our newest clients was in a rush – they called us Tuesday morning and needed funding by Thursday for payroll. The Client does fiber optic installations for local telecoms and prime telecom contractors. The Client’s business had almost doubled this year which caused a cash crunch. Because the business was young and growing rapidly, traditional banks were unable to help.
Thanks to our investment in technology, we had the Client approved Tuesday afternoon. The Client was able to sign our agreements midday on Wednesday while they were in the field by using our electronic signature platform. We funded the Client on Thursday early afternoon, just in time to meet Friday’s payroll.
Now that the Client has fast, flexible working capital, they are able to continue growing without worrying about how to meet payroll each week.