Small Staffing Company needs MCA

**TedFundy** · 03-22-2016, 04:37 PM

550 Personal Credit score. 14 years in business. No other previous funding.

Last 3 months deposits

Dec - $4,300 (but had a negative balance for nearly the entire month)

Jan - $10,000.00

Feb - $15,000.00

March so far - $4,000 + (8k invoice next week)

Owner would like a 15k advance and wants monthly withdrawals. Will anyone look at this? Should I wait until March is over to send those statements?

UPDATE*

She is unwilling/unable to factor her receivables. Anyways, I am not knowledgable in the staffing factoring business. From what I know, when she invoices her client, she receives a deposit from "American Funding" (in the deposit description it says- factoring). Hmmmm My guess is that her clients have an agreement with a factor where they pay her invoice on a discount for immediate payment. She is oblivious to this.

**WhoisKingsley** · 03-22-2016, 04:52 PM

Wait for march- look into factoring.

**VFG** · 03-22-2016, 05:09 PM

If they are open to factoring we may be able to help.

**bsmith** · 03-22-2016, 05:46 PM

Look at payback months, see how they're doing compared to last year

**bsmith** · 03-22-2016, 05:48 PM

Originally Posted by WhoisKingsley

Wait for march- look into factoring.

Yes also factoring. I'm sure bdshaw, Bob, would be more than willing to help you out.

**TedFundy** · 03-22-2016, 06:08 PM

Are there any MCA's out there that will touch this? And what would the cost be?

**bdshaw** · 03-22-2016, 07:41 PM

Thanks B S.
Ted, there are two types of Staffi,g companies. The one that causes a problem for Factors is where an emoyee is placed in a permanent position.
The agency generally once the employee is hired; however, I'm most cases the employer has the right to not pay the fee if the employee is let go within their trial period. This is also known as the right to offset.
If the employees placed are temps the invoices can generally by factored.
I would be glad to answer any questions you have.
Bob Sha W
rshaw@advancecredit.c9m
734-929-3890

**HGB** · 03-23-2016, 11:51 AM

We are willing to see what we can do! We are a direct lender.

holley@capassist.com
913-324-5918

**Chambo** · 03-23-2016, 12:25 PM

Originally Posted by TedFundy

550 Personal Credit score. 14 years in business. No other previous funding.

Last 3 months deposits

Dec - $4,300 (but had a negative balance for nearly the entire month)

Jan - $10,000.00

Feb - $15,000.00

March so far - $4,000 + (8k invoice next week)

Owner would like a 15k advance and wants monthly withdrawals. Will anyone look at this? Should I wait until March is over to send those statements?

UPDATE*

She is unwilling/unable to factor her receivables. Anyways, I am not knowledgable in the staffing factoring business. From what I know, when she invoices her client, she receives a deposit from "American Funding" (in the deposit description it says- factoring). Hmmmm My guess is that her clients have an agreement with a factor where they pay her invoice on a discount for immediate payment. She is oblivious to this.

Merchant would LIKE $15,000, but they surely do not QUALIFY for $15,000

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