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LSQ Provides $5MM Factoring Facility to AL Staffing Agency

July 27, 2021, 07:10 AM
Filed Under: Staffing Services

LSQ originated a $5 million facility for a growing staffing agency in Alabama.

The facility helped address several strategic business needs. The agency was able to leverage their current accounts receivable to complete a management buyout— generating sufficient capital to complete the transaction without incurring additional term debt. They were also able to install a robust working capital facility that will help scale the business sans covenants.

"This transaction is the epitome of how versatile factoring can be." Matt DeBernardo, regional vice president for LSQ, said. "Our client not only generated cash from existing accounts receivable for the management buyout, but they also installed a working capital facility for the reopening, resulting in sales growth. And, since LSQ's product is off-balance sheet, they accomplished both without any balance sheet deterioration."

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