FSW Funding provided a $3.5 million asset-based credit facility for a West Coast-based, family-owned and operated manufacturer and distributor.
The company needed a new financing arrangement that could be finalized within 3 weeks’ time. The company had outgrown their existing lender due to rapid growth and expansion and needed a funding partner who would be able to act quickly, while also working to understand and meet the needs of a sizable and growing business. The company initially had reached out to other asset-based lenders for financing help, but none were able to meet the short turnaround timeframe and advance rate requirements.
Through a referral, the manufacturer connected with FSW for their financing needs, giving FSW less than 3 weeks to perform due diligence and fund what was needed. FSW was able to design a credit facility that relied on accounts receivable and inventory as the core collateral for the line.
“By working to understand the needs of the company along with the timing sensitivity of their request, we were able to act quickly and provide timely feedback, giving our client confidence in choosing FSW as their partner,” said Adam Keck, vice president at FSW. “We were able to deliver quickly and reliably on its financing proposal when others could not.”
Founded in 2001 and headquartered in Phoenix, FSW Funding is a factoring firm that offers flexible and affordable lines of credit to small and mid-size business-to-business and business-to-government companies.
