Without a credit history, traditional bank financing was not an option for this start-up medical staffing firm in Georgia, but they needed working capital to fund payroll. A colleague told them about Millennium’s reputation for quick funding, a simple process and hands-on business knowledge that helps solve client challenges. They called on us and we provided a $1,500,000 Accounts Receivable Funding facility so they could help meet the medical community’s needs.
A leading contract manufacturer in Ontario, Canada, specializing in Class III cable and harness assembly provides a full range of services from engineering prototypes to production builds. The business was booming with customers in the defense, aerospace, and robotics industries. But the manufacturer’s bank credit line was maxed out and they needed working capital to purchase inventory for new projects. Through Millennium’s Inventory Purchasing Assistance (IPA) product, we provided a $400,000 facility so the company could purchase inventory immediately and have extended terms to pay us back. The existing bank maintained its relationship with the company. With adequate financing in place, business is taking off.
This IT resale and service provider specializes in IT hardware and infrastructure, including fiber and copper cabling, network routing hardware, storage, and desktop solutions. Based in Maryland, they had just won a large government contract but didn’t have the working capital they needed to purchase inventory, and government receivables take a long time to collect. With deep government contract financing, Millennium quickly provided access to working capital through a $17,000 Accounts Receivable Funding facility so they could take on the new contract and grow.