Access Capital provided a revolving credit facility of $3 million and a term loan of $200,000 to an IT staffing company based in San Diego.

The company has been operating for nearly 15 years placing permanent and temporary consultants nationwide.

After some losses due to a softness in sales without significant expense cuts, the company’s principal was feeling pressure from the structure of its restrictive banking relationship and contacted a member of the Access Capital business development team. Once the borrower demonstrated a consistent return to profitability by initiating a series of cost-saving measures and added new business, Access Capital was able to structure a new loan to replace the bank line and provide a term loan to diminish the borrower’s over-advance position.