$2.5M Responsive Funding Replaces IT Staffing Firm’s Sluggish Lender
Funding Received:
$2.5 Million
The Challenge
With 15 years of business growth and a national customer base served by its 250 full-time employees, this Iowa-based Staffing & Managed services company operating in the information technology sector understood the importance of service excellence. In fact, the company expected the same from its alternative lender but was disappointed with inadequate response times and low advance rates.
They began looking for a new lender. To ensure they found the right fit in a financial partner, the company shopped for an industry referral and emphasized customer service and competitive rates. A broker recommended Alterna Capital Solutions.
Our Solution
From the very first meeting we understood the client’s priorities were to pay off the existing lender’s LOC on time and continue operations uninterrupted. We funded within 30 days, offering a better advance rate and a flexible structure to the invoice financing. The client used the funds to continue implementing growth strategies in regions across the country.
Within the year, annual projections for the client were showing improvement and trending again toward a positive EBITDA. Additionally, the client was thankful for our team’s commitment to service excellence and being a responsive resource for business financing advice.
Measured Results
90% Advance Rate
90% advance rate on accounts receivable financing
Revenue Increase
Client projected increase in annual revenue
Projected Profit
Client projected profit during first year of engagement with Alterna
Partner with Alterna
If your business needs faster, more flexible access to working capital, Alterna is ready to be the partner behind your next move.
