Daily News: January 26, 2015

Coral Provides $9MM Financing to Call Center Provider

Coral Capital announced a $9 million factoring facility to a provider of contact center and business process outsourcing services based in the U.S., and with operations in the Philippines for working capital needs and to support expansion.

The management team has extensive industry experience, and grew operations from a complete start up to several million in revenues before reaching out to Coral Capital. The company reached out to Ronnie Sussman, BDO at Coral Capital, when management realized the potential for growth over next 2 years, and the need to secure financing to support the business. The company chose to utilize a factoring facility with Coral Capital based on Coral’s automation of the verification process, and ability to quickly process a very large number of small invoices.

Having the working capital availability, the company has already started to increase staffing in its overseas facility and projects more than doubling its call center seats in the year ahead.

The company provides inbound and outbound services to catalog retailers, technology companies, utility sector and financial services industry businesses. Other services include lead generation, technical support, email, cross-sell campaigns, web chat, as well as support services for customer service and customer retention. Because the company utilizes a combination of highly qualified U.S. and off-shore personnel, it is able to yield excellent results at affordable pricing to its customers and has enjoyed robust growth.