Versant Funds Non-Recourse Factoring Transaction to Maintenance Company with State Contract
November 12, 2024
Source: Versant Funding LLC
November 12, 2024) Versant Funding LLC is pleased to announce it has funded a non-recourse factoring transaction to a company which provides maintenance and repair services for state-owned properties.
This business has recently won a contract with a state entity which will drastically increase revenues, but also create the need for additional working capital to cover payroll and other overhead expenses. Versant was able to quickly put a factoring facility in place to advance cash against invoices due from the state, which will provide the company with the liquidity needed to fulfill their state contract obligations.
“Versant’s factoring program was a perfect fit for this family-owned business in need of expansion financing,“ according to Chris Lehnes, Business Development Officer for Versant Funding, and originator of this financing opportunity. “Because our approach to factoring focuses solely on the quality of accounts receivable, we were able to provide a facility with no cap which will grow automatically as the A/R balances with the state grow.” About Versant Funding Versant Funding's custom Non-Recourse Factoring Facilities have been designed to fill a void in the market by focusing exclusively on the credit quality of a company's accounts receivable. Versant Funding offers non-recourse factoring solutions to companies with B2B or B2G sales from $100,000 to $10 Million per month. All we care about is the credit quality of the A/R. To learn more contact: Chris Lehnes, 203-664-1535, clehnes@VersantFunding.com
This business has recently won a contract with a state entity which will drastically increase revenues, but also create the need for additional working capital to cover payroll and other overhead expenses. Versant was able to quickly put a factoring facility in place to advance cash against invoices due from the state, which will provide the company with the liquidity needed to fulfill their state contract obligations.
“Versant’s factoring program was a perfect fit for this family-owned business in need of expansion financing,“ according to Chris Lehnes, Business Development Officer for Versant Funding, and originator of this financing opportunity. “Because our approach to factoring focuses solely on the quality of accounts receivable, we were able to provide a facility with no cap which will grow automatically as the A/R balances with the state grow.” About Versant Funding Versant Funding's custom Non-Recourse Factoring Facilities have been designed to fill a void in the market by focusing exclusively on the credit quality of a company's accounts receivable. Versant Funding offers non-recourse factoring solutions to companies with B2B or B2G sales from $100,000 to $10 Million per month. All we care about is the credit quality of the A/R. To learn more contact: Chris Lehnes, 203-664-1535, clehnes@VersantFunding.com