Commonwealth Capital today announced it has provided a $700,000 invoice factoring facility to a Food Processing Company in the Upper Midwest. Commonwealth was referred to the Company by a community bank, which is providing the Company with a large line of credit and cash management services.
The Company is currently in high-growth mode and was in need of additional working capital to continue supporting its growth. By factoring its invoices, the Company has generated funds, which act as a cash cushion on top of the Bank’s existing line of credit. This interim financing solution has helped the Company move past its cash crunch and allowed it to return its focus to growth.
If you’d like to know how we can help you solve the problem of funding your growing business, from food processing to trucking and everything in between, please contact us.