WILLIAMSVILLE, NY – Millennium Funding, a leading specialty finance company offering a robust range of funding solutions, announced the closing of ten Accounts Receivable Funding facilities in June to companies throughout the United States and Canada.
The facilities supported staffing companies with diverse specialties such as medical staffing along with several start-up companies that did not have a long credit history to secure traditional bank financing.
One new customer relationship was a New York-based food services company which purchased one of Millennium’s clients and decided to stay with Millennium for funding. “Our funding provides access to steady cash flow to purchase inventory and meet operating expenses for their many endeavors, including the exciting and fast-growing area of food trucks and kiosks,” said Tim Sardinia, co-founder.
Additionally, a Texas-based hydration oilfield company came to Millennium after being turned down for bank financing. Because Millennium relies on the creditworthiness of a company’s debtors instead of the company’s prior financial performance, the oilfield company was able to qualify for $600,000 in A/R funding to expand into new territories.