LSQ, a provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for an IT staffing firm.
The company was referred to LSQ by a banking partner that was unable to support funding facility increases. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.
“It’s no secret that companies across a variety of industries have been extending payment terms to their contingent workforce vendors,” Chris Collins, senior regional vice president of LSQ, said. “This leads to a working capital squeeze that makes it hard for staffing companies to grow. This facility will go a long way in helping the firm meet its payroll obligations and take on new clients as opportunities arise.”
