Textile Manufacture: $75,000 GA (Factoring)
Husband and wife with extensive knowledge in the furniture industry saw a void developing in textiles for upholstered furniture. After exploring the niche, they decided to raise some capital and see if they could make a go of it. After a year of inconsistent sales and struggling to establish a solid customer base, they got the break that they were looking for; a large recognizable customer that they could leverage their relationship off of. After exceeding that customer’s expectation, they began to generate new customers and grow the company. In their attempts to secure financing, their banker introduced CFG to the owners. In the matter of a week they had access to the capital they needed to grow the sales and take this company to the next level.
Trucking, $100,000 OR (Factoring)
Everyone knows the challenges facing the trucking industry and they are substantial. Some companies are better prepared to succeed than others and that is the case here. A good trucking business begins to suffer when his customers no longer take advantage of his 2% early pay discount. Combine that with a couple of mechanical problems and the problems begin. Traditional lenders are not comfortable with his situation or his industry and his CPA suggests he speak with CFG. Within 2 weeks CFG is funding his A/R and he has all his trucks back on the road. His business is running smoothly and he plans to grow his sales. He has built in the fees along with a fuel surcharge and he is off to the races. This is an industry where factoring makes a lot of sense.
Exotic Food Products: $200,000 CA (Factoring)
A young distribution company suddenly found itself presented with an opportunity to purchase the factory where their main product was produced, pickled pork rinds. However, the purchase did not qualify through the SBA and there were other legal and financial problems as well. An introduction to CFG resulted in a further introduction to a capable attorney and a deal was struck. Today sales are increasing substantially and a payment plan has been put in place with the assistance of CFG. Watch for pickled pork rinds at your local super market in the near future.
Fulfillment House: $150,000 CA (Factoring)
Everyone knows the wine industry is booming and that the number of products and distributors is increasing along with it. An expert in the field is encouraged to open a fulfillment house to facilitate storage, distribution and on line sales but it is a concept business with little in the way of tangible assets, history or collateral. Fortunately an internet search put them in touch with CFG. Now not only is the cash flow assured as the business grows by leaps and bounds but the services CFG provides enables the owner to concentrate on providing the utmost in customer service. Now CFG is discussing ways to help his distributors with their own cash flow. This just might be the perfect relationship.
