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 factoring facilities and asset based lines of credit. We are unique in the market as we are a division of a bank. We are typically a lot more cost effective than most finance companies, yet we can still work with companies facing some challenges.

We partner with companies in a variety of industries nationally. One industry where we are very active due to COVID is wholesale distributors. Most of theses companies are distributors of consumer goods that are sold in membership stores like Costco, grocery chains, and e-tailers like Amazon. We recently provided facilities to several companies in this industry because they are under tremendous demand pressure and their current bank facilities or non-bank facilities are not keeping pace with the need and their bank/finance company is not willing to increase the size of the facility in the current environment.

Our ideas client:
-Based anywhere in the US
-Wholesale distributors of consumer goods sold to large retailer/e-tailers.
-Revenues from $2Mil to well over $400Mil
-Facility need from $500K to well over $40Mil.

Example: I am closing a transaction for a wholesale distributor that is not getting enough flexibility from their current bank ABL facility. We have proposed a new ABL facility financing AR & some M&E that is larger and much more flexible. Company: $150Mil in revenue. Facility: 10Mil on AR and $2Mil on M&E.

There are some companies that are growing during this pandemic and their banks/finance companies are just not keeping pace with the needs.