Updated: Sep 14
Porter Capital is an invoice financing and business factoring company that strives to help its clients with excellent customer service, fast and accurate underwriting, and easy funding. We have been around since 1991, and in nearly 30 years have provided hundreds of companies with factoring services that are flexible, fast, and friendly. We work with many different types of businesses and industries across the United States, ranging from small staffing companies to large manufacturers or suppliers. We strive to provide a service that can truly help protect the revenue streams that help your business grow, ensuring you have the working capital needed to complete projects, purchase new inventory, and rocket to levels of success you may have never imagined.
What the Business Needed:
Thanks to some targeted marketing and advertising we were contacted by a company that was struggling to find the working capital it needed because of a slew of financial issues. As a supplier of fresh and frozen seafood in the Northeast United States, over the years, has undertaken multiple Merchant Cash Advances (MCAs) to help fund growth, totaling over $75,000 and putting a strain on the company finances because of the high interest rates and fees associated with MCA loans.
How Porter Capital Helped:
Using the benefits of our factoring service, within just 24 hours of verifying the outstanding invoices, the fresh and frozen seafood company had access to the funds needed. Porter Capital was able to provide funding up front to release them from their damaging MCA loans; allowing this client the freedom to factor their future accounts receivable. Once inside the Porter Capital fold they were able to pay off three separate merchant cash advances; significantly reducing their cost of working capital while generating a cash injection of $225,000 for the business. Without our help the business was on the bring of bankruptcy, thankfully they are now one of the top distributors of fresh and frozen seafood in the country.
Focus on Customer Service:
Beginning with the initial contact and continuing throughout the loan application, underwriting, and funding process we provided quick and easy service to our client; they have now been with Porter Capital for over two and a half years and are very pleased with the results they've experience, even referring another company to join our family of business clients. For the purposes of this tombstone they offered the quote below:
"We are delighted with the services Porter Capital has provided us, thank you!"
How We Can We Help Your Business:
If you are looking for working capital or invoice factoring, putting you in a similar situation as our client in this story please visit our apply page or give us a call at 1-800-737-7344 and we would love to discuss your problem and see if there is a financial solution Porter Capital could provide. Also if you are shopping factoring companies make sure to read our reviews so you can see how Porter Capital differentiates itself with great customer service and quick, easy funding. We strive to give our clients the best customer service experience possible from the moment we first make contact to the time the first deposit hits your business bank account; thank you for taking this journey with us, we are just getting started.