An established New Jersey school transportation company was awarded a new, large service contract with a school system. They needed working capital immediately but their bank was slow to react. We worked with the bank through a subordination agreement, quickly providing a $100,000 Accounts Receivable Funding facility and now the buses are rolling.
You never know when you might need us. The owner of a North Dakota oil field supply company had worked with Millennium in the past when he was with another company. When his current company ran into a cash flow crunch he knew exactly who to call. Based on their strong accounts receivable, we were able to provide a $75,000 Accounts Receivable Funding facility and get them the working capital they needed. They have since signed two new contracts and business is booming.
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.
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.