A small importer of mattress springs had an opportunity to regain a previous client but he lacked the working capital to carry the receivable. Because 90% of his business came from one large customer, other factors were not interested in working with him because of concentration issues. We provided a $500,000 factoring facility without any concentration caps which allowed our client to re-acquire a major client and dramatically grow his business.
Factoring – case 7
Published On - September 2, 2020
