Daily News: February 7, 2013

Commonwealth Capital Funds Minneapolis Staffing Company

Commonwealth Capital provided a $50,000 factoring facility to a medical staffing company. The financing will provide the cash-flow the company needs to fund payroll and grow.

Based in a Minneapolis suburb, the company provides temporary staffing solutions for clients in the healthcare industry.

“The company was referred to us by both their banker and accountant,” said Ben Van Zee, president of Commonwealth Capital. “They selected Commonwealth because we were a local company and could meet with the owners face-to-face and discuss financing options. As a second generation family-owned business, we understand the challenges that start-up businesses face and they felt secure knowing our facility could grow with them as they took on new customer relationships.”

The company’s existing lender was willing to subordinate its lien allowing Commonwealth to provide the immediate funding the company needed to fund payroll. The company is now able to book more business and seek out new and larger customers.

Commonwealth Capital is a provider of accounts receivable financing for growing companies and business in transition in the upper Midwestern United States.