[Kevin Henry-Seacoast]

Hi DF,

We are Seacoast Business Funding a division of Seacoast National Bank. We offer flexible working capital solutions in the forms of factoring and asset based lines of credit. We have a lot of experience providing working capital facilities to cell tower service companies.

Reasons why they need a facility:

-Carriers and tower owners are constantly upgrading cell tower equipment to keep pace with the growing demand for bandwidth from consumers. 5G is coming and the recent auction of spectrum will require a host of tower re-packs by carriers and tower owners.
-Jobs typically take 3-7 days to complete, the job must get approved (could take 1 -2 weeks), and terms with customers are N30-N60. Some carriers are going N90.
-It is hard for these companies to obtain bank facilities due to lack of industry knowledge, customer concentrations, and the business can be boom or bust.
-Contracts with customers makes it difficult for most finance companies: Sometimes not allowed to verify invoices, N90 terms, and you cannot re-direct payments to a third party. We do NOT have an issue here.

Ideal Client:
-US based company providing cell tower audit, maintenance, and upgrade services.
-Customers include carriers, tower owners, and large contractors.
-Revenues-$2mil to well over $100Mil
-Facility Need: $300K to well over $20Mil

We know this industry extremely well. It is VERY tricky to finance and not every lender is going to understand the business.

Kevin.Henry@SeacoastBF.com

[therealrichzone]

I have financed quite a few cell towers in the past on simple capital leases