Hey DF,

Most of you know.... We are Seacoast Business Funding, a division of Seacoast Bank. We offer flexible working capital solutions in the forms of factoring and asset based lines of credit. We are unique in the market as we are bank owned, but can still work with challenged credits and/or companies in transition. All credit decisions are made in our division.....we move much faster than the bank!

Most of you also know that staffing is one of our favorite industries to finance. We really love IT staffing companies and would like to partner with companies that have a large need.

Our ideal client:
-Providing temp or contract staffing to large end customers, government agencies, or working through vendor managers.
-Based anywhere in the US. We have worked with companies with foreign owners.
-Revenues: We typically work with companies generating revenues from $2Mil to well over $300Mil. We really love the larger deals!
-Facility needs from $500K to well over $30Mil. Again....the bigger...the better.

Why clients partner with us:
-We have been the trusted working capital partners for staffing companies for years. We understand the industry extremely well.
-We are typically much more cost effective than most finance companies.
-Our client view us as long term partners and we can offer them some traditional bank services other finance companies cannot.
-We offer flexibility: Advance rates up to 95%, can finance companies with N90 terms and greater, will finance approved/un-billed time, and usually offer covenant light facilities.
-We have helped many of our client acquire other staffing companies.
-Speed-We have closed highly complex transactions in a little as ten days.

There are a LOT of IT staffing companies in the following states: TX, FL, NJ, CA, AZ, VA, CO, WA, and MA.
As you are talking to staffing companies two questioned should always be asked:
-Are you using a bank line to finance working capital? Is it providing enough liquidity for you needs.
-Are you factoring? We can provide a much better solution than most finance companies.

KH