Marco Financial established a $600,000 factoring facility for a New York-based staffing company that provides temporary personnel to global technology firms. Building the business and extending terms to its customers was stretching out cash flow and impacting further growth for the company.
“Marco was a pleasure to work with. Their professionals were always available and efficient and made me feel like I was a priority,” the client said, according to Marco Financial.
“We appreciate the confidence that this entrepreneur and his team have in Marco,” Barry Kastner, executive vice president and senior managing director at Marco Financial, said. “This transaction closed without a hitch. We replaced a lender that was not fulfilling our client’s needs. The facility is expandable as the client grows, and over the initial two-year term, this added finance flexibility will give the client the fuel needed to support their growth.”
“Marco’s impressive growth continues as we support businesses in a variety of different sectors,” Jacob Shoihet, CEO and co-founder of Marco Financial, said. “From small exporters in Latin and Central America to U.S. and Canadian business[es] seeking cash flow, Marco provides customized solutions for each transaction it encounters.”
Founded in 2020 by Peter D. Spradling and Shoihet, Marco Financial is headquartered in Miami with offices in New York and across Latin America. Marco is backed by Antler and Struck Capital and its credit facility is underwritten by Arcadia Funds.