News

October Deals Support Staffing Industry

11/20/2019

WILLIAMSVILLE, NY – Millennium Funding, a leading specialty finance company offering a robust range of funding solutions, announced two new Accounts Receivable Funding facilities in October, both in the staffing industry.

Both companies were startups and the facilities gave them access to the working capital they needed to help them launch successfully. Without a long credit history, bank funding was not an option.

“When you’re a startup, speed to funding makes a big difference. Our quick response and flexible solutions are perfect for young, growing companies,” said Tim Sardinia, co-founder. “One of these was in the medical staffing segment, and they needed funding to meet payroll within a week of calling. We were happy to onboard them quickly so no one missed a paycheck.”

Additionally, Millennium funded a light industrial staffing company based in Ohio, which was being started by an entrepreneur who had five years’ experience in the industry. Millennium conducted credit due diligence on her potential clients to provide additional assurance that the business was working with credit-worthy debtors, then quickly got the company onboarded. The business now has stable cash flow and is growing quickly.

Millennium’s flexible Accounts Receivable Funding gave both companies access to steady cash flow, enabling them to take advantage of new growth opportunities and succeed long-term.