An entrepreneur with five years’ experience in the staffing industry decided to open her own light industrial staffing company in Ohio. She needed working capital to get business off the ground, but the banks turned down the company’s loan applications. A broker referred her to Millennium Funding. We conducted due diligence on potential clients to provide additional assurance the company was working with credit-worthy debtors, then provided a $25,000 Accounts Receivable Funding facility. The young company now has solid cash flow and is growing quickly.
A Massachusetts-based medical staffing startup company ramped up very quickly and needed payroll funding within a week. As a start-up they didn’t have the credit history banks were looking for, but fortunately an experienced broker referred the owner to us. We quickly provided a $25,000 Accounts Receivable Funding facility so no one missed a paycheck. The business is now running smoothly with stable cash flow and taking on bigger and bigger contracts.
A software support company recently needed an infusion of working capital to hire additional staff, meet increased demand and expand their geographic footprint. Millennium quickly provided a scalable $700,000 Accounts Receivable Funding facility to accelerate their rapid growth now and into the future.
A tutoring company located in Arizona offers one-on-one tutoring to eliminate distractions common in group settings. As student volume increased, they needed working capital to hire additional teachers. Since they were a previous client, they knew they could turn to Millennium for a new $50,000 Accounts Receivable Funding facility to help more children succeed.
An auto transportation firm in Nova Scotia needed working capital to fund everyday expenses including payroll, fuel, insurance and vehicle maintenance. The firm was working with another factoring company but made the switch to Millennium when they learned of our higher advance rate. Millennium provided a $4,000,000 Accounts Receivable Funding facility, and with maximum funds, this firm was back on the road to growth.