Rosenthal Capital Group (RCG), a private commercial finance firm in the United States, completed two recourse factoring deals $4 million.
In the first transaction, a California-based design studio and furniture manufacturer specializing in handcrafted, made-to-order pieces was looking for funding against its largest customer as well as funding to support growth as the company added customers. The company and its senior leadership were already familiar with RCG and the firm’s decades of experience providing factoring facilities to furniture sector clients. After a more formal introduction, RCG provided the company with a $2 million recourse factoring facility to support its rapid growth plans.
In the second transaction, a company specializing in providing staffing to automobile manufacturers handling detailing of vehicles and logistics to dealerships was in need of a new recourse factoring solution. The company, which operates as a U.S. subsidiary of a European parent, works predominately with foreign automobile manufacturers with plants in the U.S. Essentially a start-up with no historical financial statements available, the company required immediate funding to support bi-weekly payroll payments. RCG was introduced by a key referral partner and was able to step in to provide a $2 million recourse factoring facility to the newly formed U.S. business with a single customer relationship.
“Our ability to tailor recourse factoring solutions to fit the specific needs of our clients is one of our main differentiators,” Leigh Lones, head of recourse factoring at RCG, said. “Because we’re independent, we can act quickly to get our clients the funding they need, when they need it, and our recourse factoring solutions can easily and quickly grow as our clients’ needs change over time.”
