Ideas: Stay at Home Vacations

Hi DF,

Most of you know...... We are Seacoast Business Funding, a division of Seacoast Bank. We are trusted working capital partners for companies in a variety of industries nationally. We offer flexible working capital solutions in the forms of asset based lines of credit and factoring facilities. We are unique in the market because we are bank owned yet can still working with companies facing challenges.

The COVID pandemic has devastated the entertainment and travel industries. Families that have the means are altering their vacation and entertainment plans. many are seeking for things they can do at home or purchasing items where they can vacation/entertain while social distancing such as buying boats and RVs. Many are also purchasing items to enhance their at home experience such as pools, outdoor sporting equipment, and grills. These industries are seeking dramatic demand for products. At the same time traditional lenders are still cautious about increasing tradition lines of credit to help with working capital needs. Example: I am currently closing a $3Mil ABL facility for a company that manufactures pool products. The company had a small LOC with their bank, but the bank was reluctant to increase their facility to help with working capital needs. Reasons why the bank declined: Explosive growth and customer concentration.

Our ideal client:
-Based anywhere in the US.
-Revenues from $2Mil to well over $300Mil.
-Industries: Manufactures or distributors of outdoor sporting goods, grills, camping gear. Anything that can be used on a boat or RV, but not the vehicles themselves. Pool equipment and supplies. Outdoor furniture and/or supplies.

Best,

Kevin

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Originally Posted by Kevin Henry-Seacoast

Hi DF,

Most of you know...... We are Seacoast Business Funding, a division of Seacoast Bank. We are trusted working capital partners for companies in a variety of industries nationally. We offer flexible working capital solutions in the forms of asset based lines of credit and factoring facilities. We are unique in the market because we are bank owned yet can still working with companies facing challenges.

The COVID pandemic has devastated the entertainment and travel industries. Families that have the means are altering their vacation and entertainment plans. many are seeking for things they can do at home or purchasing items where they can vacation/entertain while social distancing such as buying boats and RVs. Many are also purchasing items to enhance their at home experience such as pools, outdoor sporting equipment, and grills. These industries are seeking dramatic demand for products. At the same time traditional lenders are still cautious about increasing tradition lines of credit to help with working capital needs. Example: I am currently closing a $3Mil ABL facility for a company that manufactures pool products. The company had a small LOC with their bank, but the bank was reluctant to increase their facility to help with working capital needs. Reasons why the bank declined: Explosive growth and customer concentration.

Our ideal client:
-Based anywhere in the US.
-Revenues from $2Mil to well over $300Mil.
-Industries: Manufactures or distributors of outdoor sporting goods, grills, camping gear. Anything that can be used on a boat or RV, but not the vehicles themselves. Pool equipment and supplies. Outdoor furniture and/or supplies.

Best,

Kevin

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Bump! Just received an inquiry for a $3Mil ABL need for a company in the outdoor industry. They surpassed 2019 revenues in may.

KH

Quote:

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Originally Posted by Kevin Henry-Seacoast

Bump! Just received an inquiry for a $3Mil ABL need for a company in the outdoor industry. They surpassed 2019 revenues in may.

KH

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A staycation?

Something that would be used on staycation.

Cold call to a company that manufacturers products used in the back yard......staycation. Result: 3 separate facilities for the 3 companies owned by the family. They are experiencing hyper-growth since COVID occurred and their bank would NOT increase any of their working capital lines of credit.