Marco Financial established a $750,000 factoring facility for a New York-based staffing company specializing in providing law firms with temporary legal personnel.
Offering terms to its customers was stretching out the staffing company’s cash flow and limiting its growth.
“The challenge with this transaction was that the client commenced business last year, so there was little history to evaluate,” Barry Kastner, EVP and senior managing director for Marco Financial, said. “However, we were impressed with the company’s principal and his business model, and Marco’s experienced staff found ways to mitigate these issues and bring the deal to closing.”
“We are delighted to support entrepreneurs with their financial needs,” Jacob Shoihet, CEO of Marco Financial, said. “This facility is expandable as the client grows, and over the initial two-year term, this added flexibility will give them the fuel needed to support their growth. From small exporters in Latin and Central America to U.S. and Canadian business seeking cash flow, Marco provides customized solutions for each transaction it encounters.”
