Porter Capital is an invoice financing and business factoring company that strives to help its clients with excellent customer service, fast and accurate underwriting, and easy funding. We have been around since 1991, and in nearly 30 years, have provided hundreds of companies with factoring services that are flexible, fast, and friendly. We work with many different types of businesses and industries across the United States, ranging from small staffing companies to large manufacturers or suppliers. We strive to provide a service that can truly help protect the revenue streams that help your business grow, ensuring you have the working capital needed to complete projects, purchase new inventory, and rocket to levels of success you may have never imagined.


A Service Company doing $40 million in revenue was in need of a cash flow solution due to negative impacts left by the pandemic.


As a result of the pandemic, the company’s revenue began to suffer, and customers began paying later. To combat this issue, it needed a senior credit facility to increase cash flow and fund growth. With its invoice documentation and payment terms being a bit different, it proved difficult for the company to find a conventional loan facility.


Attract Capital, LLC, a New York-based investment banker, was engaged to find the solution. Founder, David Barnitt, advised the company to secure a receivables financing facility that would infuse a significant cash position on the balance sheet on day one. Thus, giving the company the ability to grow the credit line without restrictive financial covenants. To fulfill these needs for the client, Attract turned to Alabama-based A/R financing and asset-based lender, Porter Capital.

“We ran our process and identified Porter Capital as a good fit. Porter was quick to respond and ran a straightforward process. I was impressed with their personal commitment level to the deal. The Porter deal team was highly professional and transparent with the client, creating a sense of closing certainty and ongoing funding reliability.” – David Barnitt, Attract Capital, LLC

Porter Capital extended an $8MM credit line secured by Accounts Receivable. The credit facility allows the company to draw up to 90% of the invoice balance immediately while also providing eligibility on the invoices for up to 120 days. Since the company had never financed its invoices before nor entered into an alternative finance agreement, education on the process was needed.

John Cox Miller, Senior Vice President of Porter Capital, said,

“Attract Capital was instrumental in managing the client’s expectations, bringing them up to speed on how the financing works and keeping everyone on task to fund the credit facility. David and his team seemed to know exactly what we needed and managed an efficient process with the client. David also reviewed the credit agreements with the client and educated them on the importance of certain provisions necessary for an A/R lender. We are thrilled to gain a great client and fund one for our trusted partners at Attract Capital.”

The service company now has the ability to increase cash flow and fund growth without restrictive financial covenants.

“I am very excited to help my client obtain flexible, well-priced funding. I am also happy to have helped Porter, a leading lender, close this deal and gain a new, scalable lending relationship.” – David Barnitt, Attract Capital, LLC

Porter Capital Can Help Your Service Company Grow

If you are a business owner looking for working capital, invoice factoring, or have found yourself in a situation similar to the client in this story, please visit our Apply Page or give us a call at 1-800-737-7344. If you are a broker looking for solutions to meet the needs of prospects who do not qualify for traditional financing, you can submit a referral for review on our Partner Page or give us a call at 205-322-5442. Our team would love to discuss your needs and which of our financial solutions best fits your business needs.

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