Daily News: December 1, 2017

FNCC Funds Two A/R Lines for $6.25MM

Federal National Commercial Credit, an alternative lender for small and medium-sized businesses across various industries, completed two new fundings.

They first funded a $1.25 million accounts receivable factoring line to a 29-year old specialty cheese manufacture, headquartered in the Northeast. The new credit line will be used to provide working capital for the company as they prepare to move into their new state-of-the-art manufacturing facility.

FNCC also funded a $5 million asset based line of credit to a healthcare staffing company in the Southeast. After a recent change in ownership, the staffing firm sought a line of credit to support their operations and growth. The new line of credit will provide working capital for the company to execute their expansion initiatives.