Daily News: May 31, 2012

Hennessey Capital Completes Four Factoring Facilities


Hennessey Capital announced it has completed four transactions totaling $900,000. The deals include:

  • a $350,000 factoring facility to a cell phone tower builder, a returning client. Proceeds will support new sales. The deal was closed in April 2012.

  • a $200,000 factoring facility to an equipment designer. Proceeds will provide working capital to meet pent-up demand. The deal was closed in April 2012.

  • a $250,000 factoring facility to a healthcare staffing company. Proceeds will provide working capital and fund initial invoices. The transaction closed in April 2012.

  • a $100,000 factoring facility to a plastic products manufacturer. Proceeds will provide working capital to the established business that has been experiencing growth. The deal closed in April 2012.

    Hennessey Capital finances the working capital needs of growing companies through asset-based lines of credit and factoring of accounts receivable.