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  1. #1
    Senior Member Reputation points: 337045
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    Happiness

    Happiness is taking a deal away from one of your competitors while simultaneously blowing another one out of the water competing for the business.

    Better advance rates, more flexible terms, better costs, extended terms with key customers, and truly understanding the client's business rules the day!
    Hedley Lamarr......That's Hedley

  2. #2
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    More happiness......

    IT Staffing Company with a small bank line and stacked with an advance. Growing rapidly and struggling with payroll. Closed a $2Mil factoring facility with an aggressive advance rate. Owner is contemplating an acquisition of a company similar in size to his company. We will be helping with the financing of the target company.
    Hedley Lamarr......That's Hedley

  3. #3
    Senior Member Reputation points: 39157
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    Oct 2014
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    Naples, FL
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    470

    BOOM. Sounds like real winning to me.

  4. #4
    Senior Member Reputation points: 39157
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    Congratulations Kevin.

  5. #5
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    Quote Originally Posted by Steven_O View Post
    Congratulations Kevin.
    Thanks! We announced a $20mil deal late yesterday. Former factor was limiting availability due to size. We offered a larger facility, much better advance rates, and a huge savings for the Company. More to come! It’s been a busy month!
    Hedley Lamarr......That's Hedley

  6. #6
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    More happiness..... Just closed a $10Mil facility for a staffing company. The CEO worked for another staffing company I financed for him. His former Company is still a client!

    I LOVE happy customers!
    Hedley Lamarr......That's Hedley

  7. #7
    Senior Member Reputation points: 69645
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    Quote Originally Posted by kevin henry-seacoast View Post
    more happiness..... Just closed a $10mil facility for a staffing company. The ceo worked for another staffing company i financed for him. His former company is still a client!

    I love happy customers!
    nice!
    Thank you,

    Lior Monus
    Business Development Manager
    CFG Merchant Solutions


    Direct: (646) 880-6764
    Cell: (516) 319-5826
    Fax: (646) 278-7322
    Lmonus@cfgms.com
    180 Maiden Lane New York, NY 10038

    www.cfgmerchantsolutions.com

  8. #8
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    Quote Originally Posted by Kevin Henry-Seacoast View Post
    More happiness..... Just closed a $10Mil facility for a staffing company. The CEO worked for another staffing company I financed for him. His former Company is still a client!

    I LOVE happy customers!
    https://www.linkedin.com/posts/seaco...89928448-tdhE/
    Hedley Lamarr......That's Hedley

  9. #9
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    Happiness: Surprising a referral partner by paying them commissions on a deal they presented to me over 2 years ago. They made the initial intro, presented a financial package, we proposed, and they Company decided to use a small bank facility and self fund. I stayed in touch with the CEO and re-engaged. We re-proposed and closed a transaction.
    Hedley Lamarr......That's Hedley

  10. #10
    Senior Member Reputation points: 337045
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    Just don't close deals.......win clients.

    I am closing an ABL deal for an IT staffing company. We competed against several non-bank finance companies and a few large commercial banks.
    -We offered more flexible terms than all the commercial banks. Our pricing was slightly higher, but the client chose us because of our industry knowledge, flexibility, and can offer other bank services needed.
    -We hands down beat all the non-bank finance companies on pricing, terms, flexibility, size, knowledge of industry, and services. They were not even close.....

    KH
    Hedley Lamarr......That's Hedley

  11. #11
    Senior Member Reputation points: 337045
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    More happiness........ Don't just win deals...... Win customers! I beat a very large money center bank and several non-bank factors/lenders on this! It was referred by a consultant in the IT staffing industry that knows us well. He was contacted by management after they had a frustrating experience with the bank and non-bank finance companies.

    Seacoast Business Funding Provides $6,000,000 Asset-Based Facility For IT Consulting and Staffing Provider

    Seacoast Business FundingBoynton Beach, FL – September 29, 2020 – Seacoast Business Funding, announced a $6,000,000 asset-based revolving credit facility for an IT Consulting and Staffing provider in the northeast. The Company specializes in contract data management, laboratory and testing analytics, and Statistical Analyst System (“SAS”) programing to its customers for clinical trial applications.

    The Company was acquired last year and let its previous line of credit lapse. The parent company requested the subsidiary seek a financial partner to manage working capital needs. Seacoast Business Funding structured a facility to provide immediate access to cash-flow to support current operations with the flexibility to scale as the Company’s financial needs grow.

    “The closing of this transaction showcases our industry-expertise and knowledge of the client’s business model. Leveraging the increased capital will alleviate existing constraints and provide a reliable financing solution for future growth,” commented Jay Atkins, President of Seacoast Business Funding.

    About Seacoast Business Funding

    Seacoast Business Funding provides customized and timely working capital financing solutions to small and middle-market companies engaged mainly in business services, distribution, manufacturing and staffing with annual sales ranging from $1 million to $200 Million. Credit facilities are in the form of Factoring, Invoice Purchasing or Asset-Based agreements. Seacoast Business Funding is a Division of Seacoast National Bank. Member FDIC.

    Best,

    Kevin
    Hedley Lamarr......That's Hedley



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