LSQ Creates $15MM Invoice Finance Facility for Cell Phone Wholesaler
April 17, 2024
Source: LSQ
ORLANDO, Fla. (April 17, 2024) - LSQ, a leading provider of working capital finance and payments solutions, recently originated a $15 million invoice finance facility for a Florida-based distributor of cellular phones and other personal electronic devices.
The company will use the additional capital to support its growth trajectory since adding new product lines in the past 18 months.
“The company has seen an explosive uptick in business,” said Renee Jackson, LSQ National Sales Director, “and, as we have seen across a variety of industries, that puts a tremendous strain on cash flow and can slow down growth. For a company like this, an invoice finance facility is a great way to conquer those challenges and not add debt to their balance sheet.”
The distributor was introduced to Senior Regional Vice President Chris Collins by a partner in the LSQ banker referral network. This opportunity presented a unique set of challenges due to the foreign ownership of the U.S. operation, along with the abnormally high customer concentration within their receivables base.
“We know banks are in transition when it comes to their credit appetite and are having to come up with creative solutions to maintain long-standing relationships with clients,” said Collins. “We are thankful for the referral and partnership to help serve this company and are honored by the trust that the banker and client have put in LSQ.”
LSQ offers (and partners on) myriad financing options, including accounts receivable, inventory, and supply chain finance in facility sizes ranging from $250,000 to $200 million. We can help companies of all sizes and stages solve for high growth, challenged credits, tripped covenants, high debtor concentrations and bankruptcies.
About LSQ | lsq.com
LSQ is a market leader and pioneer in working capital finance and payments solutions. For nearly 30 years, LSQ has leveraged innovative technology, credit and risk expertise, and proprietary data that empowers thousands of businesses to optimize their working capital, automate and accelerate payments, manage collections, and mitigate risk. Every year, we accelerate billions of dollars in payments to businesses and their suppliers through our LSQ FastTrack platform to help them obtain the funds they need to grow and thrive. LSQ is headquartered in Orlando, Florida. Learn more at www.lsq.com.