Hi DF,

In the current environment a lot of businesses will see declining sales and profits. Much like the last economic downturn, many of these companies blew through covenants on their bank lines of credit and asset based lines of credit. Many sought factoring or non-bank asset based lines of credit as an alternative. I was an investment banker during this time and placed hundreds of millions in factoring deals , asset based lines of credit and distressed sale/equity deals. The key to all of this is moving quickly as time is NOT on the business owner's side.

We are Seacoast Business Funding, a division of Seacoast Bank. We are trusted working capital partners to companies in a variety of industries nationally. We offer cost effective and flexible working capital solutions in the forms of asset based lines of credit and factoring facilities. we will always lead with accounts receivable and have the ability to finance M&E and inventory as an accommodation if it makes sense. Because we are owned by a bank we are usually much more cost effective and flexible than most non-bank finance companies and can offer some commercial business services they cannot. We can an will partner with challenged businesses even though we are owned by a bank. All of our credit decisions are made within our division.

Our Ideal Client:
-Industries: Staffing, Manufacturing, Distribution, Consumer Products-especially food and beverage, Business Services, Transportation, Aerospace/Defense,and Government Contractors,
-Industries we avoid: Construction, Healthcare (when customers are insurance, Medicaid, or Medicare), Marijuana, and Weapons sold to the general public.
-Location: Anywhere in the US
-Revenues:$2Mil to well over $400Mil
-Facility Size: $500k to well over $30Mil

What we need to review:
-2019 and YTD Income Statements and Balance Sheets
-AR & AP Detailed Aging Reports
-A sample of some invoices with commercial customers.

Why clients close to partner with us:
-We know the above referenced very well.
-We are cost effective, flexible, and the client has a suite of commercial credit products at their finger tips.
-We listen first and move fast. I have closed factoring deals in less than 10 days.

Yes-We gladly pay referral fees to our referral partners.