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LSQ Ramps Up Funding for Utilities Staffing Firm Working to Fully Restore Service After Hurricane Ian

November 29, 2022, 06:00 AM
Filed Under: Utilities
Related: LSQ Funding

When Hurricane Ian hit Florida in late September, more than 2.5 million homes and businesses were without electricity throughout the state. Once the danger from the storm subsided, crews quickly got to work assessing the damage and planning restoration of power.

One such company - based in Orlando - was the first on the scene in many parts of the state and its team realized that in order to get vital utilities restored quickly, they were going to need to ramp up quickly. That would require more people - and getting those people was going to take working capital.

To meet the need, the company turned to LSQ, a long-time partner that had been providing them with invoice financing for more than six years. To help them respond to Ian, LSQ was able to increase their facility to $50 million.

“We have had a great relationship with the company over the years,” said Ravi Kissoon, Portfolio Manager at LSQ. “They have provided critical services for communities impacted by more than 75 storms and having funds that can scale to the size of the response required has been critical to their success. We are proud to have played a small part in the work they have done.”

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