[knox]

Hey all -

I'm looking for a factoring company that can help me out with a staffing company that is looking to move away from a full service factor that handles all of their payroll and backend processes. In addition to wanting more control over their processes, they are dissatisfied because of an incident that caused a breach of data and leaked personal information.

The problem -

They have one client that has a large balance and can't be bought out.
They have started a 2nd company that is similar name and spousal ownership that they want to use to move to a new factor company.
I've been running into an alter ego situation that is preventing anyone from moving forward.
The current factor has agreed to acknowledge the new factor and continue to collect on the past due balance from one customer.

Weekly invoices are ~$60,000

Any insights are appreciated.

[Kevin Henry-Seacoast]

Hey all -

I'm looking for a factoring company that can help me out with a staffing company that is looking to move away from a full service factor that handles all of their payroll and backend processes. In addition to wanting more control over their processes, they are dissatisfied because of an incident that caused a breach of data and leaked personal information.

The problem -

They have one client that has a large balance and can't be bought out.
They have started a 2nd company that is similar name and spousal ownership that they want to use to move to a new factor company.
I've been running into an alter ego situation that is preventing anyone from moving forward.
The current factor has agreed to acknowledge the new factor and continue to collect on the past due balance from one customer.

Weekly invoices are ~$60,000

Any insights are appreciated.

Happy to take a look to see if we can help. We are one of the larger factors and asset-based lenders to staffing companies in the US and members of one of the premier staffing associations.

[Olderguy]

Not sure I understand the issue but reach out:

Nancy Kalman| Senior Business Development Office
United Capital Funding
401 North Michigan Ave, Suite 1200, Chicago, Illinois 60611
(312) 560-7600 - Cell

Maybe Kevin from Seacoast can help too

[Kevin Henry-Seacoast]

Not sure I understand the issue but reach out:

Nancy Kalman| Senior Business Development Office
United Capital Funding
401 North Michigan Ave, Suite 1200, Chicago, Illinois 60611
(312) 560-7600 - Cell

Maybe Kevin from Seacoast can help too

I understand it and I think I know the company.