The Hedaya Capital Group recently provided a $750,000 factoring facility to a Texas-based IT staffing and software consulting firm, which works with Fortune 500 companies on both a temporary and permanent basis.
Recently, several of the company’s clients began expanding while older clients re-engaged. The surge in demand placed pressure on its ability to provide increased services, while creating cash flow constraints due to Net 60- and Net 90-day client payment terms, making weekly payroll particularly challenging.
To better manage working capital, the company sought a receivables factoring solution. Its founder, who previously worked with David Huber — now Hedaya’s vice president, portfolio and operations manager — reached out to him to explore options. Huber and his team conducted due diligence quickly and structured a $750,000 factoring facility to support the Company’s continued growth.
“I can’t speak more highly of this client; he is an absolute pleasure to work with, extremely professional and open to suggestions,” Huber said. “Company leadership is excited to build this relationship long-term with the goal of expanding the facility significantly. We are pleased to offer our expertise in the staffing sector to this talented entrepreneur and his management team.”
The new facility will enable the Company to expand its current client relationships, onboard new ones and continue its growth trajectory. Hedaya is connecting the company to additional business resources to help enhance reporting and bookkeeping capabilities and better mitigate risks.
