Printing Company $300,000 (Factoring)
The company had outgrown its line of credit at the bank but would rather use their receivables to fuel their growth rather than putting more personal collateral on the line. Suppliers in their industry are looking to tighten up their own cycles so there are substantial discounts available for volume purchases and early payment. With a comprehensive factoring and A/R management facility this company can now guarantee its own payroll, take advantage of supplier discounts and aggressively pursue the growth expected in their market.
Veneer Products $150,000 (Factoring)
A surge of interest in sporting goods products requiring high quality wood veneer has this company reaching outside of their geographic area to customers in the US. With credit being a large issue these days, one of the best services FVF can provide for this very new company is the day to day attention to the credit detail of their customers. One bad credit decision can impact a newer company as it wouldn’t have the resources to recover as quickly as one with a longer history. The factoring process also allows that they are poised to take advantage of volume discounts and timely payments to their suppliers.
Safety Products $400,000 (Factoring)
After a four year R&D period, an innovative company supplying specialty safety products is looking forward to taking advantage of a wealth of opportunities. Through years of persistence, the owner of this company has been able to gain recognition for his product in North America and to have it integrated into the building code and fire codes. In order to establish supplier credit FVF makes sure the needs of the supplier are met by making payments directly to them. The client can now focus on making sure a quality product is being delivered on time and purchase orders are being filled rapidly.
Staffing Agency $250,000 (Factoring)
When a rapidly growing staffing agency ran into cash flow problems, it eventually fell behind on its tax remittances. The agency’s banker was unable to help, but suggested they speak with FVF. In less than two weeks, FVF was able to help the agency negotiate a plan to pay its tax arrears and remit the first payment. Future payments and current remittances will be paid directly by FVF until the arrears have been brought up to date. The agency is now able to focus on service to its clients and profitability, and in the future intends to venture into new industries. Most importantly, they’ve learned a valuable lesson about the importance of cash flow and timely tax payments.