$1.2 Million Line for an IT Solutions Firm
Challenge:
Due to deficit reduction activity on a government contract, an IT solutions firm was breaking bank covenants and consequently needed an alternative financing provider.
Solution:
Federal National provided a $1.2 million accounts receivable line, enabling the company to pay down its bank obligations and providing working capital for future growth.
$800 Thousand Line for a Health Services Company
Challenge:
Due to a limited track record and lean balance sheet, and in spite of the founders' strong prior experience, a start-up health services company was unable to secure traditional financing to fund its first contract awards.
Solution:
Federal National provided the firm with an $800 thousand line to fund payroll and other operating expenses, allowing for anticipated rapid growth.
$4 Million Line for Contractor to the Department of Defense
Challenge:
A company providing battlefield, telecommunications and new equipment training solutions to the Department of Defense violated its loan covenants. As a result the firm was unable to renew its credit facility during a period of rapid growth.
Solution:
A $4 million line from Federal National refinanced the bank credit facility and immediately provided the needed working capital to support its growth.
$750 Thousand Line for a Software Products and Services Company
Challenge:
A software products and services company was in need of alternative financing after breaking loan covenants with its bank.
Solution:
Federal National provided a $750 thousand accounts receivable line, paying off the firm's obligation to the bank and assuring adequate working capital for new contract awards.
$750Thousand Line for a Provider of Professional and Integrated IT Services
Challenge:
Due to recent tax arrearages a provider of professional and integrated IT services was not bankable. Yet, he wanted to transition from his existing factor.
Solution:
Federal National was able to provide the company with a $750 thousand accounts receivable line to pay down the company's previous factor and provide ample working capital for future growth.
$400Thousand Line for IT and Telecommunications Consulting Services Provide
Challenge:
While lacking the track record to qualify for traditional bank financing, a start-up IT and telecommunications consulting services provider wanted to change its prior factoring facility.
Solution:
A $400 thousand accounts receivable line from Federal National allowed the startup to pay down its prior line and provided ample working capital to grow and fulfill its contracts.