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- Fifth Third Bank Provides New $100 Million Senior Credit Facility for E-Commerce Retailer
- TSL Express Industry Deals
- CIT Northbridge Credit Serves as Sole Lead Arranger on $40 Million Credit Facility for Europa Sports Products
- Scout Clean Energy Closes $100 Million Equipment Supply Loan
LSQ Provides a $10MM Facility to an Educational Software and Technology Company
July 7, 2020
Source: LSQ Funding
An educational software and technology firm in the northeast US approached LSQ to satisfy its working capital needs during the COVID-19 crisis. The company provides turnkey solutions to school districts so its students can work remotely and access class and homework assignments. While the company had received government stimulus funding, it was not sufficient to satisfy the new cash requirements from its foreign supply chain due to the impacts of COVID-19. This both slowed and limited the company from obtaining new equipment/hardware to be able to design its turnkey solutions and satisfy increasing new business ventures.
LSQ structured a $10 million AR facility for the company to convert its existing invoices into cash immediately. This allowed the company to continue to fulfill its increasing orders by keeping its supply chain intact as more schools adjusted to remote educational solutions. The company continues to leverage its invoices to readily service its ever-growing base of new clientele.
Statistics
Time to fund: 27 days
Total A/R Facility: $10M
Initial Funding amount: $4.5M
About LSQ
LSQ helps businesses better manage their cash flow to make the most of whatever they've earned. Offering invoice financing and supply chain finance solutions, LSQ provides clients with a simple, secure, and honest funding experience. LSQ blends human insights with the analytical power of technology to develop products that give customers the means to accelerate the flow of business. LSQ, headquartered in Orlando, Florida, has helped 1,000s of companies access $25 billion in its 20+ years in business. Learn more about our solutions at www.lsq.com/
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