$125,000 Factoring Facility Helps Petroleum Products Company Step into High Gear
We were introduced to a growing petroleum products and fuel equipment company that was looking to continue expanding. They provide their products to commercial and industrial businesses and have been looking to expand their customer base significantly, but they didn’t have a financial partner that could grow with them if they significantly increased their sales.
After meeting with the owner, it was clear he was passionate about what they do. The Company had quite a few opportunities to expand their customer base if they had access to more working capital. Within 3 days of our initial meeting, they had cash in their bank account from the $125,000 factoring facility to provide them with the backing to add on new customers.
The Company acquired the capital commitment they needed to continue booking new customers and discovered a local, flexible capital source with a personal touch.
The Company can use the capital to its advantage by negotiating quantity discounts and early payment discounts from vendors offering terms.