Check out the details of our most recent funding for two tech industry companies:
Technology Staffing Agency, $200K Funded
Porter Capital welcomes referrals and some of the best come from our existing clients. Recently, a technology staffing agency was referred to us by another client. Porter Capital works with staffing agencies across several industries and all over the United States. Staffing agencies typically have longer invoice payment terms and wait 60 to 90 days to get paid by the businesses they staff, and our client was running into a payroll shortfall.
Invoice factoring can help with these types of cash flow issues. Porter Capital will review your invoices and advance your company cash up front, within 24 hours. We were able to help this staffing agency by offering invoice factoring on a revolving basis, guaranteeing the client could make payroll this month and for months to come.
High-Tech Logistics Firm, $500K Funded
Our new client built a technology platform to streamline the shipping process for fine art. To grow their business, the client broadened to support other luxury items including antiques, jewelry, and wine. This client was referred to Porter Capital by another financial services firm that could not offer funds because the client did not fit their lending criteria. Partnerships are important to us and we welcome referrals from our peers in the industry.
This logistics firm was having cash flow problems because they offered extended invoice payment terms to customers and most of their business was being done with one auction house. At Porter, we have been providing working capital solutions to our clients for over 30 years and we have flexibility when creating the ideal funding solution for our clients. Porter Capital was able to offer funds to this client when other financial services firms could not.
Now the client can pay freight forwarders and keep their high-end shipments flowing. At Porter, we work with other factoring companies and take on deals in industries they do not support or do not match their lending criteria. We have been in business for over 30 years and can be flexible in our deal structure.
Let Porter Capital Fund Your Tech Business’ Growth
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. Our team would love to discuss your needs and which of our financial solutions best fits your business needs.