KORE Capital, a provider of accounts receivable-based working capital solutions, extended a $1 million financing facility to support an entrepreneur returning to business after a period of significant personal loss and challenge.
After losing both parents over a 16-month period, the business owner took an 18-month sabbatical to focus on their health, family and financial stability. Upon return, the owner secured a subcontract with a Big Four consulting firm to support the upgrade of the U.S. Department of Veterans Affairs’ digital health records management system, a major engagement with national impact.
However, the decline in the company’s profitability and the owner’s personal income during their sabbatical prevented them from qualifying for traditional bank financing, despite the strength of the new contract. Recognizing the opportunity and the need for a nontraditional funding path, a fellow business owner and friend referred them to KORE.
“This entrepreneur had the expertise, the contract, and the vision — they simply needed a financial partner who could meet them where they were and help them to rebuild,” Kwesi Rogers, president and CEO of KORE, said. “At KORE, we believe that moments of transition shouldn’t prevent good businesses from moving forward.”
KORE Capital quickly structured a $1 million accounts receivable-based working capital solution that enabled the owner to stabilize the company, support project delivery and begin rebuilding both the business and their life.
“This is exactly why our model exists,” Kwesi said. “Entrepreneurs are resilient, and the right capital at the right moment can restore momentum, confidence and long-term growth.”
