$250,000 Factoring Facility Expedites Growth

Client:
Established in 2021, this veteran-owned security guard staffing brokerage provides services to a wide range of commercial clients, including cannabis dispensaries. The Company partners with other security staffing firms to supply labor on a 1099 subcontractor basis, enabling it to service areas where W-2 employees are not available.

Situation:  
The Company had an existing factoring relationship with a bank; however, due to federal banking regulations the bank was unable to factor any invoices involving cannabis dispensaries. Their bank referred them to nFusion Senior Vice President Brice Reid to factor the dispensary invoices, thus enabling them to retain the Company’s business line.

Solution:
$250,000 Factoring Facility

“Federal anti-money laundering laws had created gridlock for this Company, preventing them to factor any invoice related to marijuana dispensaries and forcing them to wait up to 90 days for invoices to be paid. nFusion was pleased to break the impasse and get cash flowing again. We are pleased to fill this gap in the current banking system.” Brice Reid, nFusion Capital Senior Vice President

Result:
nFusion’s flexible factoring line of credit enabled the Company to factor valuable invoices, quickly increasing their cash flow to pay their security staffing vendors, pay expenses, meet payroll, and take on more growth opportunities for long-term success.