October 2007
Precision Machine Parts Manufacturer $150,000 TN (Factoring)
Founded in 2001, this company started out making products for the medical field. Eventually they lost their largest customer and began to experience financial difficulties. To rebuild their business, they started producing specialized machine parts. This line of business continued to grow, but the growth could not reach its potential due to insufficient capital. CFG was able to step in and provide A/R financing, which is now allowing them to meet their cash flow needs and take on additional business.
Freight Transportation Company $800,000 GA (PrimeLine)
After establishment in 2006, this new company had the opportunity to acquire an existing trucking company. With limited capital to do so, the company turned to CFG for help. CFG provided the necessary capital to assist with not only the acquisition, but also with ongoing capital for rapid growth. Soon after the initial injection of capital, CFG increased their commitment to this client to $1,000,000 in order to accommodate their rapid expansion plans.
Non-Emergency Medical Transport $100,000 WA (Factoring)
With the government as their customer, this company was faced with slow turning receivables. It was imperative for this client to improve their cash flow to meet increasing labor and fuel expenses. The company turned to a bank for financing, but the four new owners were unable to secure an adequate bank line due to their limited personal assets. CFG entered the equation and was able to provide the much needed working capital and A/R management. Now the company is able to consider acquiring more vehicles in a growing industry.
Furniture Manufacturer $350,000 CA (Primeline)
This small furniture manufacturer obtained a contract from a large furniture distributor to take their products into a new chain of retail stores. To meet this opportunity, the company would have to make a substantial increase in their equipment, people, and inventory. With the amount of working capital the company had at the time, this would have proven impossible. CFG made this opportunity a reality by providing the company with access to the working capital tied up in their A/R. By taking the order from the distributor, the sky is now the limit for this company.
To learn more about CFGs accounts receivable management programs, please visit www.cfgroup.net or contact us at (800) 757-5195.
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