Results 1 to 7 of 7
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04-16-2014, 05:43 PM #1
- Join Date
- Apr 2014
- Posts
- 20
Seeking Funder that will fund a staffing company
Merchant has been in business for 12 years
They do approx 90K in gross sales weekly. $4.6MM Annually.
They currently have a factoring company that is purchasing the receivables in advance for 10%. The gross sales (revenue) is paid directly to the factoring company. Then from there payroll is disbursed and profits are disbursed to the merchant. So the merchant bank account is only showing approx $50K to $60K monthly profits not the gross.... we can however get a printout of the gross from the factoring company proving sales.
He is looking to acquire 200K to 250K
Thanks in advance.
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04-16-2014, 07:35 PM #2
Contact me at 305.842.6282 to get this funded.
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04-16-2014, 08:23 PM #3
- Join Date
- Apr 2014
- Posts
- 20
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04-17-2014, 05:32 AM #4
- Join Date
- Mar 2014
- Posts
- 147
Seeking Funder that will fund a staffing company
Strategic funded 2 staffing companies for us and fast business funding does as well ! They do a great job !
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04-17-2014, 09:26 AM #5
Agree with Ed..Strategic is good for that industry. Also try Fora. Good luck!
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04-17-2014, 03:00 PM #6
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Typical for factoring the factor will advance against invoices once a week.
Monies would be dispersed to a payroll company that would pay the employees and all payroll taxes.
In this case the companies effective gross is 90% of the gross or $72K weekly (100& less the 10% purchase price).
I would urge you to deal with someone who has years of experience in the factoring industry to get this done quickly.
I have over 40 years in that industry and have done several similar deals. $200 to $250K seems doable.
I'm at 734-929-3800
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04-17-2014, 04:35 PM #7
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