Commercial Janitorial Firm
Initial Funding: $50,000
A commercial janitorial firm was faced with a dilemma. Most of their customers were paying within the usual 30 day terms, but a few of their larger accounts were demanding an additional 30 days. Realizing their services could easily be substituted by their competition's, the janitorial firm wanted to extend the payment terms to ensure customer satisfaction. Unfortunately, this concession would put a pinch on cash needed to pay employee wages.
A referral from a local SBDC led the firm to Hamilton. In less than 5 business days, Hamilton presented the firm with a factoring program that granted them the financial freedom they were seeking. By factoring select accounts, the firm was able to meet the demands of their customers, as well as meet weekly payroll.< Previous Next >