How Working Capital Finance helped a firm improve their cash flow.

CHALLENGE: A technical staffing company was rapidly acquiring large corporate accounts. Their cash flow was not keeping up with their accounts receivable. The business needed fast access to working capital, but was unwilling to take on more debt and dilute their equity. The owner had explored Working Capital Finance with an independent company, but was unhappy with the rates.

SOLUTION: First Citizens Working Capital Finance provided the business with a proposal that included competitive rates and terms. The growth of the company was fueled by turning their accounts receivable into CASH! In addition, First Citizens Working Capital Finance provided the credit and collection of accounts receivable, reducing credit risk and accounting costs.

RESULT: The owner is delighted with the results – improved cash flow. The business increased liquidity without adding debt to the balance sheet. The owner is now able to focus on developing new business relationships and considers Working Capital Finance the driving force behind the company’s growth.

First Citizens Working Capital Finance program provides:

• Immediate cash flow

• Competitive advance rates and fees

• Accounting services

• Credit and collection

Working Capital Finance is ideal for:

• Manufacturers

• Service providers

• Wholesalers

• Distributors

• Commercial printers

• Staffing companies

Businesses that benefit from First Citizens Working Capital Finance are usually one or more of the following:

• Rapidly growing
• Highly leveraged
• Experiencing seasonal sales variations
• Working with government or other public receivables
• Having difficulty receiving prompt payment from customers
• Involved in a buyout, merger, acquisition or restructuring
• Have sales volumes of $1 million or more