Cornerstone Business Credit is pleased to announce the recent funding of a $300,000, expandable line of credit to an information technology consulting firm.
This firm did not qualify for traditional bank financing given recent losses including the shutdown of its largest customer leaving a substantial unpaid balance. The recovery is in process and Cornerstone will provide the capital necessary as the firm stabilizes. With no minimums or long-term contracts, they can graduate when ready.
“This one was right in the strike zone in terms of size and circumstance,” said Dave Lawrence, one of Cornerstone’s Managing Partners. “We help transitional businesses with credit needs up to $2 million.”
