Hi 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 asset based lines of credit and factoring facilities nationally. We partner with companies in a variety of industries and for those that know us well know I love staffing companies. We are unique in the market as we are bank owned. we are usually a lot more cost effective than non bank finance companies and can offer some banking service they cannot. We can and will work with companies facing challenges.

Staffing companies need revolving working capital facilities as most pay payroll weekly and terms with customers are N30 at best. Some IT staffing companies are bi-weekly payroll, monthly invoice submissions, an N60 at best. A lot of staffing companies received PPP during this crisis which helped them tremendously. All of out staffing clients received PPP as we are a division of a bank. While the PPP did help them, those funds will quickly run down and they will be relying on their working capital partners more. Most of our clients did not see a dramatic slow down as expected during this crisis. Our nurse staffing, light industrial staffing clients, and IT staffing clients have all performed very well during the crisis.

Out Ideal Client:
-Based anywhere in the US providing temp or contract staffing services to large corporate customers, government agencies, and vendor managers.
-Revenues from $2Mil to well over $300Mil. We don't mind working with companies on the smaller side of the scale. You will really get my attention on the larger deals.
-Facility needs from $500K to well over $30Mil.

Below please find a link to a client I won a couple of weeks ago:

https://seacoastbusinessfunding.com/...ign=annc_oct15

Best,

Kevin

PS: Yes-We gladly pay our referral partners referral fees. We usually pay up to 15% of the net spread over the life of the client. Our average client life is over 3 years.