Culain Capital Funding closed and funded a $1.5 million accounts receivable factoring facility for a New England-based provider of permanent and temporary workforce solutions. The facility delivers critical working capital to support the company’s rapid sales growth, fund larger contracts and meet surging demand across an expanding customer base.
As demand for its services accelerated, the business required additional working capital to support larger contracts and manage the significant upfront payroll obligations inherent in the staffing industry.
To meet the client’s immediate funding needs, Culain Capital acted quickly to structure a high-advance-rate accounts receivable financing facility that bridged the company’s working capital gap and ensured uninterrupted payroll. With this support in place, the company has been able to maintain momentum during a period of rapid expansion, adding new customers each week and deepening relationships with existing ones.
“Our client provides essential staffing solutions for skilled trades and project-based industries, and their recent growth has been impressive,” Jamie Franz, president of Culain Capital, said. “We’re proud to support their next phase of growth by providing a flexible, scalable facility that matches the pace of their expanding operations.”
Travis Pocock, chief revenue officer at Culain Capital, added, “This company had real momentum and just needed a capital partner who could keep pace. Our goal was to provide immediate liquidity to ensure the business maintained momentum with simple, fast and reliable capital, so the company could focus on scaling its team and securing larger contracts.”
