New Deal to Construction Company:
The first deal was a $300M working capital facility for a Louisiana based construction company, specializing in electrical, construction and roofing. With the recent natural disaster in southern Louisiana, the company experienced a spike in business and quickly needed additional working capital. Years ago, the company was introduced to CFR through a common business affiliation and called us for assistance in their time of need. Factoring was the perfect solution because it allowed the company to receive cash flow quicker from their invoices rather than waiting 30-60 days for their customers to pay. By working with CFR, the company was able to generate the working capital needed to handle the increase in business.
New Deal to Engineering Firm:
The second deal was a $250,000 working capital facility for an engineering company based in greater New Orleans area working with residential, commercial and industrial projects. The company is a start-up and needed working capital to initially fund their first projects. The company decided factoring was a great fit given the start-up nature and fast paced growth of his new venture. While his bank was supportive of the new business, they required a few years of ongoing operations before they could consider providing a line of credit.
