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    10 Replies Latest reply on Oct 27, 2008 4:32 PM by LUCKIEST

    Funding for Technical Consulting/Staffing Firm

    absolutessinc Newbie
      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
        • Re: Funding for Technical Consulting/Staffing Firm
          GETCAPITAL Wayfarer
          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
          • Re: Funding for Technical Consulting/Staffing Firm
            LUCKIEST Guide
            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
              • Re: Funding for Technical Consulting/Staffing Firm
                absolutessinc Newbie
                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
              • Re: Funding for Technical Consulting/Staffing Firm
                Fortis Wayfarer
                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
                • Re: Funding for Technical Consulting/Staffing Firm
                  b2bcash Newbie
                  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
                  • Re: Funding for Technical Consulting/Staffing Firm
                    ram5869 Newbie
                    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
                    • Re: Funding for Technical Consulting/Staffing Firm
                      b2bcash Newbie
                      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.