Capstone Business Funding closed a $1 million non-recourse factoring facility to a Michigan-based crane services company and a $3.875 million recourse factoring facility to an IT consulting company.

The demand for the crane service company’s service outpaced its cash flow. The access to working capital will allow the company to take on additional contracts and continue to grow it base of business.

The factoring facility allowed the IT company’s management to better manage its cash flow to cover twice monthly payroll. Due to rapid growth, the company’s bank line was insufficient to keep up with the availability of new business. Capstone retired the bank line and made additional capital available to the company to support its growth.