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10 Replies Last post: Oct 27, 2008 4:32 PM by LUCKIEST

Funding for Technical Consulting/Staffing Firm

Sep 10, 2008 3:44 PM

Click to view absolutessinc's profile Professional absolutessinc 3 posts since
Sep 10, 2008
I'm in desperate need of finding funding for my business. We've been in business for over a year now doing consulting and providing technical expertiese in the software configuration management area. I've just been presented a huge opprotuntiy with the opporuntiy to place 10 clients with a househould name tech company. The problem is they only cut invoices once a month and I pay my employees weekely. How does a crediable business with less than two years obtain funding. Haven't had any luck with the banks as of yet. Having a hard time dealing with the fact that I might have to pass up this amazing opportunity which will in the long run will provide me all the funding and padding I could possibly need. Any advice will be greatly appreciated.

Regards,

Jackie Taylor
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Click to view GETCAPITAL's profile Mogul GETCAPITAL 32 posts since
Sep 5, 2008
1. Re: Funding for Technical Consulting/Staffing Firm Sep 10, 2008 3:50 PM
Hi Jackie, I can assist with a factoring agreement. I can fund up to 90% of your invoices.

Thanks,

Patrick Gray
HomeCoast Capital
Phone 302-565-4233
Email pgray@homecoastcapital.com
Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
2. Re: Funding for Technical Consulting/Staffing Firm Sep 10, 2008 4:15 PM
Funding for Technical Consulting/Staffing Firm, Welcome Jackie

Don't pass up this amazing opportunity.

Tell me more. Where are you?? There are reasonable solutions. BUT I need more input from you.
How soon will you have to make this decision?? Where will the 10 clients come from??
Have you already interviewed them or hired them??

How long will this problem continue?? Will the Tech Company give you a contract.

How can we talk??, LUCKIEST
Click to view absolutessinc's profile Professional absolutessinc 3 posts since
Sep 10, 2008
3. Re: Funding for Technical Consulting/Staffing Firm Sep 10, 2008 4:43 PM
in response to: LUCKIEST
Hi Luckiest,
I'm located in Cary, NC. I have already interviewed the 10 people that I would be placing and they are already on standby (obviously they don't know about the problem I'm having with funding options right now). I definitely need to make a decision within the next week or two. After that point, the client will resort using companies they already have relationships with. This will only be a problem in the short term. After the intitial, invoice from the client I'll be able to replay most if not all of the initial loan and continue to pay my employees. Granted I would love to have some time to replay the loan (6months to a year paying monthly ofcourse) as to not completely cash strap myself. You can reach me at jackie.taylor@gmail.com. After initialy contacts, I'll be happy to provide more information.

Regards,

Jackie Taylor
Click to view Fortis's profile Mogul Fortis 239 posts since
Jul 24, 2008
4. Re: Funding for Technical Consulting/Staffing Firm Sep 10, 2008 5:32 PM
absolutessinc,

Good afternoon, hope all is well. I\'m a NC native myself but reside in CA now. Headed there soon thought to visit family. I have read your posts here and I have a few questions. Whats the official time in business and how much is your business is seeking?

Thanks
Click to view absolutessinc's profile Professional absolutessinc 3 posts since
Sep 10, 2008
5. Re: Funding for Technical Consulting/Staffing Firm Sep 10, 2008 5:47 PM
in response to: Fortis
Hi Fortis,
We've been in business for a little over a year now. Most of that time has been spent doing the consulting myself and buiding our reputation. Now after much networking finally getting that needed big break. Just didn't anticipate them only doing invoicies once a month. Currently seeking 15K and the rest I will be financing myself.

Regards,

Jackie Taylor
Click to view loan guy's profile Mogul loan guy 114 posts since
Dec 20, 2007
6. Re: Funding for Technical Consulting/Staffing Firm Sep 10, 2008 5:55 PM
in response to: absolutessinc
Seems like things are coming together for you. Are you looking to secure financing your your personal Credit. I may have some ideas on getting you financed.

cory@walkerlender.com
Click to view b2bcash's profile Professional b2bcash 5 posts since
Oct 1, 2008
7. Re: Funding for Technical Consulting/Staffing Firm Oct 1, 2008 2:54 AM
I'd be happy to help you with your funding.
Have a look at my website. I broker the deal
and make sure you get exactly what you need.
I also help with structuring your billing effectively
and streamline things

http://www.assetstocashsolutions.com

Thanks so much.
DL
Click to view ram5869's profile Start-up ram5869 1 posts since
Oct 27, 2008
8. Re: Funding for Technical Consulting/Staffing Firm Oct 27, 2008 2:56 PM
Not sure if your problem has been solved. I'm in the staffing biz for over 20 years and am looking for good quality companies to invest in and advise. Thanks.

Rick
rick@staffitinc.com
Click to view b2bcash's profile Professional b2bcash 5 posts since
Oct 1, 2008
9. Re: Funding for Technical Consulting/Staffing Firm Oct 27, 2008 4:19 PM
Jackie

Have you heard of Factoring your invoices? Let me help you.
Waiting to get paid is not usually an issue for well-established companies that have a significant cash cusion in the bank. However, it can seriously affect smaller companies and companies that are going through a significant growth phase. Banks are not helpful enough as traditional funding is limited.

Factoring is a process where you sell your invoices to a funding company for 80% of the value of the invoice UP FRONT with the remaining 20% reimbursed once the invoice has been paid. There is a fee per invoice of 3-5%. If you are willing to give up around 3% per invoice then this is the solution for you.

Over a period of a few months your cash flow changes significantly and your business is free to take on bigger clients and still keep your employees to handle the business. You will have money for payroll, expenses, taxes, loan payments etc.

Factoring has been a common way to generate cash flow since the industrial era. Companies that use factoring are common to us like, Coca Cola, Verizon, AT & T, contractors, consulting firms, Mom and Pop businesses, caterers, trucking. It is a necessary part of the business in order for them to stay in business.

Your credit does not have to be good and in fact with this financing it can be improved rapidly. The financing is dependent on the credit of the companies you do business with.

My website is being revamped at the moment but you may be able to view it: http://www.assetstocashsolutions.com

Please call me for a free consultation today. I'd be happy to give you more information about it...
Deirdre @ 503-702-2426

Thanks and I look forward to talking with you.
Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
10. Re: Funding for Technical Consulting/Staffing Firm Oct 27, 2008 4:32 PM
in response to: ram5869
Funding for Technical Consulting/Staffing Firm

Welcome Rick. How do I get in touch with you??

LUCKIEST (pdeig@juno.com)