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$400 Thousand Line for Systems Development & Maintenance ProviderChallenge: Winning contracts took longer than expected and the lessons of expense management came hard for this startup systems consulting and staffing firm. Credit cards and home equity credit lines were maxed out and trade creditor patience worn thin by the time the dream started coming true. Financially stretched as they were, the banks could not help. Solution: Federal National provided a $50 thousand funding line to help the company perform on their first two contracts. Eighteen months down the road, their funding line has increased to $400 thousand, they have annual revenues of $2.5 million, and are comfortably repaying their obligations and turning a profit. Other Success Stories$4 Million Line for Technology Solutions Provider $4 Million Line for Staffing Firm $2 Million Line for Marketing Media & Management Services Firm $3 Million Line for Specialty Navy Contractor $500 Thousand Line for Facilities and Event Management Services Provider $1.5 Million Line for Facility Management and Logistic Support Services Firm |
