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 Connecticut-based staffing start-up was ramping up quickly and signed multiple staffing contracts with creditworthy debtors. But they could not qualify for traditional bank financing and had to finance weekly payroll from the owner’s personal cash, which quickly ran out after two months. A seasoned broker referred them to us and we were able to provide them with a $50,000 Accounts Receivable Funding facility in less than 10 days. They’re now on to more 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.
This New Jersey-based startup staffing company knew they needed to shorten the time between invoicing clients and receiving payments. At Millennium, we understand the pressure growing staffing companies face to meet an increasing payroll every week. We quickly provided a $50,000 Accounts Receivable Funding facility to help them meet payroll, as well as a full back office solution including invoicing, credit and receivables management, payroll and related tax processing.