nFusion Capital provided a $2 million factoring facility to a light industrial and skilled trades staffing company. The financing will support a strong pipeline of projects and ongoing growth. 

Based in Texas and founded in 2023, the Company provides a fully trained and certified workforce to the ship repair, marine, offshore, and industrial construction industries for both short- and long-term assignments, serving companies such as Kiewit and SpaceX. The Company’s workforce including positions such as pipe fitters, structural welders, ship fitters, machinists, crane operators and more.

The Company’s rapid expansion and robust project pipeline created substantial incremental working capital needs. Given the variability of project-based billing in the industry, the Company sought additional financing from its prior lender. However, the request exceeded the lender’s risk tolerance, leading them to exit from the relationship. A tax consultant referred the Company to nFusion Capital’s Senior Vice President of Business Development Brice Reid, due to his financing expertise. 

“This entrepreneur and the Company demonstrate remarkable potential and a clear vision for the future,” Reid said. “I am proud to support their new projects and confident we can help propel their continued momentum.”

Reid and his team quickly structured a facility a $2 million factoring facility, including an accordion feature to $5 million, from term sheet to closing in just seven days to provide maximum availability against progress billings.

The facility enabled the Company to fund its operating expenses and begin work on new contracts it has won. With the flexible facility in place, the Company is in a strong financial position to continue its growth trajectory with confidence and scalability.