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.
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.