Recently, we were referred to a prospective client who was requesting a line of credit from a bank that just couldn’t help them. The borrower is a consulting firm that helps IT companies by providing many cloud computing and development solutions. The borrower needed cash flow help to cover the cash collection cycle that is so common in firms like this. They were referred to Aloft by one of our great SBA partners, who recognized they could easily qualify for an SBA term loan, but this would be a misfit for this situation.
The solution of an Accounts Receivable line of credit will allow them to speed up cash flow and grow the firm with significant hiring in 2023. This firm was very similar to another client we helped in 2022 and we worked with an excellent financing partner to get this done.
If you or someone you know if is in a similar situation, reach out to us. We have the expertise and relationships to connect borrowers with all types of commercial financing solutions.