Daily News: August 7, 2013

Transfac Capital Opens Credit Line for Staffing Firm

Transfac Capital announced the payroll financing of a multi-location staffing firm based in Georgia.

Mari Dezham, account executive manager of Transfac Capital, stated, “We’ve financed several staffing agencies throughout the years and are very familiar with their payroll challenges. This particular company has 13 locations, each of which generate a large number of invoices. Due to the high volume of invoices, it was obvious that smaller factoring companies didn’t have the resources to handle this account quickly and efficiently. We have appointed an account executive whose sole focus is this account, which is exactly the type of service we believe our customers deserve. With our newest client, we opened a line of credit at $2 million and the first funding was close to $1 million, which allowed for them to continue business without interruption.

Transfac Capital is a specialty finance company that provides accounts receivable financing to small and mid-sized businesses.