A wireless solutions company recently applied for Receivables Financing with LSQ to support its growth.
The challenge came when, despite the wireless company’s solid growth, its bank was unable to extend additional financing against inventory. This was a clear signal that the company needed to tap another source of funding.
The company distributes antenna systems used by cellular and data carriers to enhance coverage in large commercial buildings, hospitals, stadiums and subways. The company had been slowly taking market share from industry leaders, growing very rapidly and doubling sales each of its first five years in business.
A recent limit placed on borrowing volume and inadequate customer credit made conventional financing unlikely. Fortunately, the opportunity to help was received loud and clear by LSQ.
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