$2 Million Factoring Facility Helps Company Grow
Based in Florida, Sullivan Commercial Painting, Inc. offers a full range of commercial painting services, from a small renovation to a warehouse or an entire roll-out. They have highly trained crews placed strategically across the country to respond to client needs.
The company had good debtors such as Walmart, Lowes, and Verizon. But their current lender wouldn’t factor on progress billing and were more restrictive on availability – factoring only about half of their accounts receivable. By taking on their progress billing, nFusion was able to increase their availability by 25%.
A $2 million factoring line of credit
“Our previous lender was unable to assist with several of our invoices. Switching to nFusion was the best decision we could have made! They have spent countless hours training and guiding us over the last few weeks and have successfully factored all of our open AR. The transition was seamless, and they consistently take much of the administrative load upon themselves-making transactions easy and pleasurable. We now know that whenever we need them, they are there. They are incredibly accessible and always answer queries within a short time. We are very happy with our decision to partner with nFusion!”
Derek Sullivan, President, Sullivan Commercial Painting, Inc.
With a quick turnaround – one week start to finish – nFusion increased their line of credit to support increased growth, pay suppliers and meet payroll. With the added cash flow, they are now able to take on new opportunities they would have had to pass on previously.
“By remaining flexible and factoring in a way other lenders wouldn’t, nFusion was able to help this company take their operations to the next level and increase revenue.”
Amity Mercado, Chief Financial Officer, nFusion Capital.