A North Dakota conglomerate of oil industry executives joined together to form a new company addressing flow-back in oilfields. They needed working capital for growth and turned to Millennium Funding for a flexible off-balance sheet financing solution. We structured a $3,500,000 Accounts Receivable Funding facility to provide the flexibility they needed to manage working capital more efficiently, enhance their liquidity and take their business to the next stage.
One of our former clients, a California-based medical staffing agency, had to declare Chapter 11 bankruptcy to restructure and start anew. As part of their restructuring plan, they called on Millennium Funding to help them emerge from bankruptcy. We were pleased to be able to provide a $1,500,000 Accounts Receivable Funding facility and enable them to continue as a going concern.
These California freight forwarders were working with another factoring company, but they couldn’t keep up with the freight company’s aggressive growth. Because Millennium Funding is structured to scale with you as your business grows, we quickly helped out with a $1,300,000 Accounts Receivable Funding facility to help them take the business to new heights. They’re now shipping packages of all sizes all over the world.
This IT software support company based in Florida had been working with another funder who couldn’t keep pace with their growth. They switched to Millennium and we significantly increased their credit line, providing a $2,000,000 Accounts Receivable Funding facility and access to steady cash flow. Because we’re designed to grow with our customers, they can now purchase inventory, fund operating expenses, and scale up their business without limitations.
A staffing firm in Ontario, Canada had been using a Professional Employer Organization for funding, but it went bankrupt unexpectedly, leaving them in a lurch without a way to fund payroll. Millennium was able to quickly onboard them and provide a $400,000 Accounts Receivable Funding facility to fund payroll and related expenses. Our speedy solution meant no one missed a pay day.