Seacoast Business Funding funds $4,000,000 in Commercial Financing in October
Boynton Beach, FL – November 6, 2019 – Seacoast Business Funding, secured $4,000,000 in accounts receivable facilities in July. The transactions added two new staffing agencies to the Seacoast portfolio.
On October 1, a $1,000,000 factoring facility was provided to a staffing agency located in the Mid-Atlantic. The Company specializes in Information Technology and has been growing rapidly and needed to establish a working capital solution to meet the demand. The facility proceeds will be utilized to support continued growth.
A $3,000,000 factoring facility was established for an Information Technology staffing company in the Southeast on October 16. The Company was seeking a reliable lending partner due to working capital constraints with their previous funder. The proceeds will be utilized to support business operations.
The President of Seacoast Business Funding, Jay Atkins, remarked, “We continued to expand our staffing portfolio in October. Our expertise, the ability to move quickly and unique understanding of the competitive market ensured the facilities were structured to meet our clients’ needs and provide a positive impact on their business operations to support growth.”
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.
# # #