We are happy to announce our new relationship with a Minnesota-based directional boring company that provides telecom and fiber optic installation services throughout the Midwest. The Company is in high-growth mode and needed additional working capital. The company kept their bank line of credit in place and is using the additional cash flow provided by Commonwealth Capital to fund growth with new customers.
We met with the Company to understand what was driving the growth of their directional boring business, what their needs were during their growth phase, and what it would take to solve their cash flow problems. We quickly put together a $750,000 invoice factoring facility that gave the client quick access to available cash as they are growing.
With quick access to cash, the Company can stay focused on delivering quality services to their clients as they grow instead of worrying about collecting on their receivables.