Daily News: April 3, 2015

Lighthouse Provides Search Firm Facility

Lighthouse Financial provided a $3.5 million revolving credit line to a North Carolina-based professional search and staffing firm.

With more than 20 years of experience, the company’s goal is to grow organically and through acquisition providing the highest quality professional search & staffing firm with a reach encompassing the entire U.S. The company is a sales & recruiting company focused in the areas of accounting, finance, executive administrative, human resources, information technology, digital media and sales.

The credit line is designed to support acquisitions and expanding contract payroll due to continued business growth. Lighthouse was able to provide an aggressive loan structure on accounts receivable that completely paid out the existing lender’s line of credit and provided excess working capital.

“Our company was coming off two acquisitions, and we needed the additional working capital support to continue the growth of our business. Lighthouse really took the time to understand our cash cycle and structured a facility that supported our payroll needs during the month. Working with the staff at Lighthouse was like a breath of fresh air,” said Tim Sessoms, president.