A construction company that builds and stages venues for large conferences recently approached a factoring partner of National Business Capital (NBC) for financing to support a significant level of outstanding bids and pipeline contracts.
The company’s factoring firm, despite having strong confidence in the company’s growth prospects, could not fully support the client’s capital needs at their current asset advance rates. The company approached NBC about a solution for the client.
Eight days after receiving the company’s application, NBC extended $1 million in revenue-based sub-debt with a one-year repayment term to support the client’s growth needs. NBC also subordinated its position to that of the factoring company.
The partnership enabled the factoring company to retain and satisfy a long-time client while supporting their client’s future growth.
