Access Capital recently closed a new credit facility consisting of a $1.75 million working capital revolver along with a term loan in the amount of $105,000. The new borrower is a Florida-based company, specializing in providing temporary and permanent staffing solutions.
The company is a 10-year veteran in the staffing industry, having built niches in the healthcare, government, finance and IT sectors.
Prior to its relationship with Access Capital, the borrower was financed with a bank for some time. The company sought out an alternative financial partner who would be more adept at supporting its growth than its existing bank. A consultant of the company met with a business development officer of Access Capital at a national staffing conference. Eventually, a partnership was formed and Access Capital replaced the revolver with the company’s current bank and also provided a term loan for growth.