If you build it, they will come!

If you build it, they will come!

Client:

Based in Salt Lake City, InteriorWorx provides commercial and residential builders in the Mountain West Region with complete interior finish solutions through a series of subsidiary companies.

Situation:

One of their subsidiaries, InteriorWorx Commercial Flooring, had begun working with nFusion Capital last year when their bank’s risk appetite for clients in the construction industry waned. They were initially drawn to nFusion’s deep experience in the industry and willingness to advance against asset categories unique to the segment. As time went on they were impressed by the relationship nFusion built and the ease of day-to-day transactions as well as their transparency and responsiveness. When their four other subsidiaries’ bank relationships came up for renewal, InteriorWorx decided to bring all their lending business to nFusion Capital.

Solution:

nFusion Capital increased their $4 million asset based lending facility to a combined $19 million facility for all five entities.

Result:

The expanded relationship gave all subsidiaries greater borrowing availability against their assets and all are performing well. They include: InteriorWorx Countertops; InteriorWorx Moulding; Krosswood Doors, LLC; and InteriorWorx Builder Design Center.  With a strengthened balance sheet and enhanced cash flow, they can pay vendors and subcontractors more quickly as well as achieve better supplier payment terms, discounts and pricing on labor, inventory, and supplies.

“Our old bank relationship wasn’t working well because they did not understand all of the different aspects of our businesses. As we worked with nFusion, it became clear they understood what we do better than others. They asked the right questions and have been completely forthcoming, even when it is something we don;t wnat to hear. Because we don’t have to constantly eductae them on how our businesses work, the relationshp is significantly easier and our day-to day r=transactions run smoother.” Brad Larson, CEO

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