Recent Transactions

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Industrial Staffing Company

 

This regional staffing company provides temporary personnel to a variety of industries across South Carolina.  In order to cover their weekly payroll, the company utilized an out of market traditional Factoring Company that purchased their invoices at a discount.  Although factoring their invoices allowed the staffing company to meet payroll each week, the factoring fee was significant and the company was looking to lower their costs.  One of Magnolia Financial¬ís satisfied clients that used the staffing company for temporary personnel made the introduction.  With extensive experience financing staffing companies, Magnolia Financial structured an Accounts Receivable Line of Credit with a 90% advance and a rate representing a 30% year over year cost savings.  With the higher advance rate and lower cost, the staffing company was able to hire a new salesperson to help grow the business.  The additional hire would not have been possible without the Accounts Receivable Line of Credit provided by Magnolia Financial.