SouthStar Capital, a private direct lender, closed a working capital facility for a growing workforce services company. With a stable and diversified customer base, the business sought additional working capital to support expanding operations and meet the demands of a recently secured contract.
SouthStar structured a flexible facility that provides dependable access to capital for payroll and other operating expenses while allowing the company to continue serving its existing customers.
“This facility provides the working capital the company needs to confidently execute on new opportunities without placing unnecessary pressure on its day-to-day cash flow,” Scott Norris, portfolio manager at SouthStar Capital, said. “We are pleased to support its continued growth and help position the business for long-term success.”
With the facility in place, the company is positioned to expand its workforce, fulfill new contracts, and sustain its continued growth.
