How Working Capital Finance helped a company increase their staffing.

CHALLENGE: A commercial janitorial company depleted their cash reserves. Recently, the company was able to win two new large clients requiring them to hire additional staff. The company knew it would be difficult meeting their short-term payroll obligations – they needed fast access to working capital without taking on more debt.

SOLUTION: First Citizens Working Capital Finance was able to help this company accelerate their cash flow and support their accounts receivable within 24 hours. Plus, First Citizens worked with the client’s customers and alleviated credit risk and collection.

RESULT: The commercial janitorial company has the cash flow to support their growth. As new clients and employees are added, the company can meet payroll and trade supplier obligations. The company owner can concentrate on developing new business relationships and considers First Citizens Working Capital Finance the driving force behind the growth of this business.

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