July was a busy month at Mid-Continent Financial Services. We did several deals with local companies during the month. Word has been spreading about our quick turnaround times and ability to factor a variety of invoices.
Wholesale Distributor Deal
We helped a local wholesale distributor that had made sales earlier this year but knew it would be waiting until its’ customers entered their new fiscal year to pay the invoices. We factored several invoices for them and gave them the capital to help them build their business. Once we were paid in full, we issued them a settlement statement along with a check for their balance within two days.
A local bank referred to us a growing sub-contractor doing work throughout the state of Missouri. They have good customers but they’re often slow to pay and with a company experiencing growth like they are, they need cash to pay suppliers to get more jobs completed. We factored three invoices for them and helped improve their cash flow immediately.
Property Management Deal
A local property management company came to us in a bit of a pinch. This time of year keeps them very busy so when a truck broke down, they were left to scramble to get money knowing their customers would pay but they had 10 invoices outstanding they brought to us to factor. We got the deal done same day so they could get back to full strength and service their customers.
It’s the start of the month. Are you ready to bill customers but need cash soon? If you’re typically waiting 30, 60, 90 days let’s talk and see if factoring is a solution for your cash flow problems.