When a former client purchased a staffing firm, the decision of where to go for flexible working capital was an easy one. Millennium quickly provided a $22,000 Accounts Receivable Funding facility so they could quickly ramp up operations and position the firm for success.
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.