At Porter Capital, we are implementing our growth strategy for 2022. A large part of our plan involves partnerships, appreciating the partners we have, and expanding our Partner Program to work with new organizations. We partner with banks, venture capital firms, consulting firms, and individual brokers. Here are some examples of our Partner Program:
We partner with banks to offer their clients financing for opportunities that don’t fit the banks’ lending structure. This could be a new deal or a longtime client with special financing needs. Porter Capital partners with commercial and small business bankers to offer alternatives to traditional loans. We can also work with the banks’ special asset division to assist higher-risk businesses. This allows the bank to maintain a positive relationship with the client and keep the client’s deposits. Porter Capital acts as a bridge to bank financing and once the client graduates from our line of credit, the bank will be in a strategic position to win the credit relationship.
Our banking partners send us potential clients on a daily basis and we can structure deals to include: AR financing, inventory financing, equipment term loans, bridge loans and cash flow loans. We’ve had many of our bank partnerships for decades and welcome the opportunity to work with established and new bankers, seeking instant funding for businesses that may not fit the traditional loan structure.
Venture Capital Firms
VC firms are often connected to exciting new start-up ventures that have a competitive advantage in the marketplace. The VC can provide start-ups with the capital needed to gain footing in their industry. Once the start-up venture becomes more established and starts issuing invoices, many of our VC partners will introduce them to Porter Capital.
Many start-ups use invoice factoring to finance growth, make payroll or buy more inventory. Invoice factoring does not require an equity stake in the start-up and is not a new debt on the balance sheet. Factoring agreements can be negotiated quickly, in a matter of days, instead of months. Our partnerships with VC firms allow us to negotiate creative deals that support entrepreneurs in fast-paced startup endeavors.
Consultants typically specialize in an industry, and we have partnerships across several; Staffing, Oil & Gas, Manufacturing, Distribution and Retail to name a few. We enjoy working with consulting firms that represent retailers supplying products to big box stores. These consulting firms recommend clients to us that have recently obtained deals with large national chains and often can’t wait 30-90 days to get paid before needing to buy supplies, make payroll or hire new employees. That’s where Porter Capital can step-in and quickly provide a line of credit or AR financing to keep the retailer in growth mode and able to fulfill large orders.
We also work with business management consulting firms that are taking companies to the next level with strategic planning and team development initiatives. Consultants in the field often become aware of financial challenges within the company and rely on Porter Capital as a resource. We can work with the consultant to structure a deal based on the creditworthiness of the company’s customers and sales volume instead of the traditional credit rating of the company.
At Porter Capital, we have great relationships with numerous brokers who refer deals to us because they know we’ve been doing this for over 30 years and have the experience needed to structure large deals, up to $100MM, but can also work with small, local business owners to give them the financial flexibility needed to grow their business.
A broker recently referred a local candle company to us that needed financing to fulfill large orders for a major retail chain. We met with them at their factory and were able to provide a $500M line of credit within a few days. This line of credit allows them to bulk purchase supplies, fulfill large orders and wait for payment while continuing to work on the next order.
Another example of a broker-referred deal is our recent technology staffing company funding announcement of $2MM. A broker with expertise in the staffing industry knew Porter Capital would be a good fit because of our ability to work with international owners. We provided the needed capital for the company to continue hiring new employees to support their large staffing contracts in the US, Canada, India and Thailand.
We welcome serious inquiries as we expand our Partner Program. Some of the many benefits of partnering with Porter Capital are earning a percentage of the deal over the lifetime of the contract, maintaining a positive customer relationship, co-branding and marketing opportunities and broadening your market contacts. If you are interested in partnering with us, please contact us: email@example.com, check out the Partner page on our website and feel free to call us 1-800-737-7344.