Accounts Receivable Factoring Supports Growth
Boynton Beach, FL – October 2, 2018 – Seacoast Business Funding announced the funding of a $500,000 accounts receivable factoring facility for a southeastern based staffing agency. The Company recently received a contract from a large corporate client. The Company is expected to double its size in the next 18 months and will utilize the proceeds to support its current growth trajectory.
President of Seacoast Business Funding, Jay Atkins commented, “Working previously with the majority shareholder we were familiar with the organizational structure and able to accommodate the client by closing within 10 days. We are pleased to be providing the Company with a facility that will scale to meet their current and future business needs.”
About Seacoast Business Funding
Seacoast Business Funding provides customized and timely working capital financing solutions to small and middle-market companies engaged mainly in business services, distribution, manufacturing and staffing with annual sales ranging from $1 million to $200 Million. Credit facilities are in the form of Factoring, Invoice Purchasing or Asset-Based agreements. Seacoast Business Funding is a Division of Seacoast National Bank. Member FDIC.
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