Helping service companies
Most service companies face the same basic cash flow or financial problem: making payroll. While you may pay your employees weekly or twice monthly, your customers take 30 days or more to pay you. No matter your company's profitability, a cash crunch is inevitable.
The faster you grow, the tighter the situation becomes. Growing critically depends on financing, but traditional banks often won't help.
Banks rarely extend credit to service companies because service companies make money by providing an intangible and often work from leased space using leased equipment.
Your balance sheet may not show the "hard assets" that banks demand before extending credit without a personal guarantee from the owner. And, in most cases, banks don't treat your receivables as an asset to borrow against.
Many service companies with a great track record showing great growth potential can't get bank loans. Thus, the inability to obtain a bank loan has nothing to do with a company's success.
Since we don't rely on financials or hard assets to provide funding, service companies like yours find it easy and simple to qualify for financing. It's very possible you could have your cash before your next payday.
Some of our service industry clients include:
- Staffing companies (medical/nurses, clerical, blue/white collar)
- Consulting firms
- Janitorial services
- Security companies
- Transportation businesses (trucking, student transportation)
- Laboratories
- Landscaping... and many others
We've probably helped a business, or two, or three like yours. Contact us to find out how you can stop the money headache.
