nFusion Capital extended a $2 million factoring line of credit to Sullivan Commercial Painting, a Florida-based commercial painting company.
Sullivan Commercial Painting’s previous lender wouldn’t factor on progress billing and was more restrictive on availability, factoring only about half of its accounts receivable. By taking on the company’s progress billing, nFusion was able to increase the company’s availability by 25%.
“By remaining flexible and factoring in a way other lenders wouldn’t, nFusion was able to help this company take their operations to the next level and increase revenue,” Amity Mercado, CFO of nFusion Capital, said.
With a quick turnaround of one week from start to finish, nFusion increased Sullivan’s line of credit to support increased growth, pay suppliers and meet payroll.
“Our previous lender was unable to assist with several of our invoices. Switching to nFusion was the best decision we could have made,” Derek Sullivan, president of Sullivan Commercial Painting, said. “They have spent countless hours training and guiding us over the last few weeks and have successfully factored all our open A/R. The transition was seamless, and they consistently take much of the administrative load upon themselves, making transactions easy and pleasurable. We now know that whenever we need them, they are there. They are incredibly accessible and always answer queries within a short time. We are very happy with our decision to partner with nFusion.”
