LSQ, a provider of working capital and payments management solutions, originated a $2 million accounts receivable credit facility for a Georgia-based, staffing firm serving lodging and hospitality industry.
The funding was the result of a new partnership between LSQ and Bridge, a company focused on democratizing lending with the goal of providing a platform to give businesses easy access to capital sourced from banks and alternative lenders.
“Working capital is a critical driver for business growth, and we’re proud to collaborate with innovative partners like LSQ to deliver tailored solutions,” Rohit Mathur, CEO of Bridge, said. “By combining our advanced technology with LSQ’s expertise, we ensure borrowers find the best financing options efficiently, empowering them to focus on scaling their businesses with confidence.”
As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.
“We have long had a goal of providing small-to-medium businesses with access to financing options that meet their unique funding needs,” Miguel Serricchio, chief channel development officer at LSQ, said. “Our partnership with Bridge, leveraging their innovative approach to that same goal, allows us to give more options to more businesses at a time when traditional financing options are becoming more restrictive. For our first funding to be to a minority business enterprise makes the efforts to bring this partnership to fruition even more satisfying.”
