The Hedaya Capital Group recently provided a $750,000 factoring facility to an established staffing company based in New Jersey but operating nationwide. The company was experiencing a surge in growth, but its receivables collection did not keep up with the contemporaneous growth in payroll. The company’s clients were paying invoices in 60 to 90 days, but the staffing company needed to meet weekly and biweekly payroll, resulting in a cash flow gap.
Before starting the business, the founder had worked at another staffing company where he forged a close relationship with Hedaya’s vice president and portfolio and operations manager, David Huber. He was comfortable in turning to Huber to help his new company.
Hedaya’s $750,000 facility is designed to enable the company to continue to grow in an uninterrupted manner.
“Our experience with Hedaya was seamless, everything worked just the way I expected, and I appreciate the relationship we have with Hedaya,” the firm’s founder said.
