LSQ originated a $6 million accounts receivable credit facility for a Pennsylvania-based IT services provider.
The company was referred to LSQ by a banking partner. The company will use the additional working capital to pay off an existing line of credit and to support new service offerings and other growth opportunities.
As part of the partnership, LSQ will also provide the company with accounts receivable and customer credit management.
“As the economy continues to change, we are seeing a greater need for working capital for businesses looking to grow and as companies like this one outgrow their existing lines of credit, they have to find new levers to pull to maintain liquidity. A/R finance is a great option,” DJ Krystopa, regional vice president of sales and bank partnership development at LSQ, said. “I’m thankful for the trust that the client has put in us to support them and for the bank partner who made the introduction.”
