Challenge: An oil and gas transportation company’s previous factoring company cut off their funding because of the current downturn in oil and gas. Overnight the company was left short on cash and unable to effectively run daily operations.
Funded: The company’s banker was confident this customer would be a good fit for Catalyst. Beyond just looking at receivables, we looked at the company’s ownership, opportunities, and vision. Even though this particular company was experiencing a temporary loss in profit, the potential for growth was evident to our team. Because of our experience and longevity, we were able to provide resources when others may not be able. We set-up the factoring agreement quickly and the company’s first funding arrived within 48 hours. They were back to work, which was good for us, the company, and the bank.