Daily News: June 20, 2013

Federal National Closes $2.8MM in A/R Lines

Federal National Commercial Credit provided accounts receivable factoring lines to three small businesses, totaling $2.8 million. The deals consisted of:

  • a $2 million contract financing line for IT consulting firm;

  • a $500,000 accounts receivable factoring line for SDVOSB health services organization; and

  • a $300,000 payroll funding line for engineering services provider.

    Federal National offers invoice factoring and asset-based lending services for payroll funding and other working capital needs.