OVERVIEW

A wildly-popular Fragrance Brand needed additional working capital to navigate seasonality and prepare for production & distribution acceleration.

PROBLEM

While operations were running smoothly and yearly revenue numbers were performing above expectations, this Fragrance Brand had its sights on aggressive growth. Having reached its maximum credit capacity within its current facility at a prominent bank, this Fragrance Brand needed a short-term boost in working capital to accelerate growth.

SOLUTION

This Fragrance Brand reached out to 24Hr Fast Funding for help. We reviewed their business statements, and helped them understand their options for turning their long-term assets into easily accessible cash flow solutions. After assessing their A/R, inventory, production equipment, real estate & IP (brand equity), 24Hr Fast Funding provided this Fragrance Brand with a $20mm facility. The company will use the funding to sustain operations through peak seasons and accelerate the business for the future.

OVERVIEW

Manufacturer & Distributor of watering products and accessories needed additional working capital to invest in improving operational efficiencies throughout its various brands.

PROBLEM

Changing market conditions forced this Manufacturer to research & develop new product lines for its various brands. To do so, this Manufacturer needed a short-term working capital injection to invest in its operations in several manufacturing facilities and distribution hubs. Their current lender could not provide this Manufacturer with a higher credit limit even though their breakeven point/payback period was predicted to be 15 months.

SOLUTION

24Hr Fast Funding provided this Manufacturer with a $35MM facility backed by A/R, equipment & inventory. Funded by a prominent private equity sponsor, the company will use the working capital from 24Hr Fast Funding to support operations across its multiple brands and manufacturing and distribution facilities.

OVERVIEW

Private Label Manufacturer & Distributor of wholesale and custom candle products & accessories needed working capital to invest in R&D and operational expansions.

PROBLEM

This Manufacturer had a sizable government loan at a minimal rate which was provided during the pandemic in 2021. While the low rate offered the business plenty of short-term flexibility, the amount of financial & business covenants, coupled with extensive reporting, were restricting the efficiencies of their operations to the point where the advantages of the low rate were outweighed.

SOLUTION

24Hr Fast Funding quickly provided a $40MM facility for one of the largest candle producers in the U.S. This afforded the Manufacturer the ability to close and transition from their government loan agreement before year-end. Supported by a private equity sponsor, it will use the ABL-backed line of credit from 24Hr Fast Funding to support continued product innovation and expansion among its multiple brand names and private labels.

OVERVIEW

Equipment refinancing is used to leverage the equity in a fleet of Chassis trailers get the cash needed for important growth.

PROBLEM

Having reached the max in facility size at their current factoring company, this Chicago trucking company’s growth trajectory had stalled. As a fleet of 200 trailers, 180 were owned outright, leaving 20 brand-new trailers under bank loans. The trucking company was experiencing extreme cash strain. They needed more cash to keep the business running and position them to meet their business goals that year.

SOLUTION

The Chicago based trucking company reached out to 24Hr Fast Funding, who reviewed the business statements and helped them understand their options. We first extended the trucking company’s facility limit to accommodate the fleet’s growth in A/R. We then were able to refinance the debt owed on the remaining 20 trailers in the fleet, which provided the company with the immediate cash needed for their business. In refinancing the existing equipment, this trucking company was able to reinvest in their business and regain competitive advantage in the market.

OVERVIEW

This manufacturing company specializes in providing accessible personal defense solutions to meet the needs of various customers. With nearly two decades of experience in the industry, the company distributes to wholesalers that sell to a wide network of individuals seeking self-defense options.

Financing Solution: Factoring
Initial Amount: $1,500,000Location: SouthIndustry: Manufacturing

PROBLEM

When the company decided to transition its equipment financing and working capital solutions to a bank, they anticipated a smooth process. However, upon making this switch, they found themselves unexpectedly confronted with a multitude of bank covenants. These covenants placed restrictions on the company's financial activities including, limits on borrowing, requirements for maintaining certain financial ratios, and restrictions regarding the use of funds.

SOLUTION

24Hr Fast Funding stepped in to refinance some of their equipment providing a working capital boost. They then realized the need for an ongoing line of credit to assist in growth.

Due to their strong revenue and accounts receivable, they were able to quickly qualify for an initial factoring line of $1.5 million. Invoice factoring provided them with ongoing working capital that can grow as the company grows and eliminated the need to rely on a bank for a line of credit. This approach provided immediate relief and offered a simplified and efficient solution for managing the company's cash flow without the restrictions required by bank agreements.