How Working Capital Finance helped a firm expand their services.

CHALLENGE: This young telemarketing company was rapidly growing. The company had one major customer that wanted to expand their services provided by the telemarketing company. Although the company had a working capital line of credit, their growth had already outpaced their borrowing limits. In addition, the company's profits just could not meet the increased cash needs of the company.

SOLUTION: The company was introduced to First Citizens Bank's Working Capital Finance service. First Citizens Bank purchased the accounts receivable and provided the business with immediate cash flow. First Citizens Bank also provided the credit and collection of accounts receivable, thus reducing credit risk and accounting costs.

RESULT:The company has increased sales and can rapidly add new customers, knowing that First Citizens Bank Working Capital Finance will provide fast access to working capital. The company is now able to focus on developing new business relationships and considers First Citizens Bank 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