Cornerstone Business Credit funded a $2 million line of credit for an IT company.
The company’s banking relationship was impacted by a seasonal drop in billings, causing its line to be out-of-formula. Despite getting back within formula and attaining sales growth and profitability, the bank deemed it necessary to exit the credit.
Cornerstone Business Credit responded with a receivable-based line of credit to pay the bank out in full and provide additional working capital.
