Expert Forum: Think Outside the Bank to Capitalize on Your Potential

For 20+ years Millennium Funding has been helping companies throughout the United States “Capitalize their Potential”.

In today’s economic environment, the strict governing policies and collateral requirements make it difficult for many businesses to raise funds from traditional banks to meet their day-to-day cash flow needs.  Properly financing the growth of a business can be challenging – sometimes you need to think “outside the bank”.

Simply put, banks focus on your past performance, Millennium Funding will focus on your future potential.

Consider the following two case studies:

After calling on a prospect for nearly a year, a Rochester, NY temporary staffing company received an order for 40 temporary workers needed by a local manufacturing company.  Good news – bad news.  She got the order but now had to figure out how to cover payroll (and taxes) for the additional 40 employees for the next six weeks until she received payment from her new client.  She needed almost $200,000 to be able to cover the payroll obligation so she could accept the order.  As most companies do, she approached the local banks.  Unfortunately, she was turned down for traditional bank financing due to lack history and sufficient collateral.  Luckily, she was introduced to Millennium Funding who was able to provide her company with a payroll financing facility.  Additionally, Millennium Funding provided her company with payroll, tax remittance and invoicing services.  Today her business is thriving and she continues to use Millennium Funding for her working capital needs.

A west coast apparel company received a large purchase order from a health care uniform wholesaler.  The order required for $525,000 worth of product to be purchased and delivered from their manufacturer in Indonesia.  The apparel company did not have the working capital necessary to provide the required deposit to the factory.  Millennium Funding was able to provide the manufacturer with a Letter of Credit which ensured the goods would be produced, inspected and shipped on time.  The purchase order (PO) funding facility combined with the accounts receivable (AR) financing provided the apparel company with the necessary cash flow throughout the entire manufacturing, sales and collection cycle.

As revealed in the case studies above, Millennium Funding focuses on the future.  Millennium’s wide range of financing products can be summed up in one word – “Flexible”.

By partnering with Millennium Funding our clients are able to focus on their goals and what they do best – growing their businesses.  Millennium Funding caters to the needs of small/medium and growing companies by providing a working capital solution.  Millennium understands what it takes to help our clients grow and thrive.

If your business is growing and in need of working capital please contact me directly to discuss your specific financing needs.  The funding process usually takes about 10 days to get set up.  Contact me today and let Millennium Funding “Capitalize Your Potential”.

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Disclaimer: The above commentary entails the views of the author and not necessarily the views of the Buffalo Niagara Partnership.