Birmingham, Alabama – In the present post-COVID-19 world, factoring is one of the handful options available to access capital and can be a decent alternative for businesses looking for snappy access to cash without going into debt, giving up equity, or collateralizing capital assets. Porter Capital, a leading name in factoring is doing a commendable job in these unprecedented times. It has funded a security staffing firm with $10 Million in April 2020 as well as 28 other accounts funded, belonging to different industries.
Without any site visitation, to adhere to the COVID 19 safety measures, Porter gained a confidence level with management over virtual calls and was able to fund the transaction within a week as well as get the PPP application through by coordinating with a local bank. Now the firm has a credit line and can focus on growth with the growing scale of A/R balance. Porter Capital focuses on helping the key players to find ways to mitigate the COVID-19 pandemic in whatever ways it can.
The current COVID 19 episode that came as a typical “black swan” event, took the entire world by complete shock. The novel coronavirus spreads worldwide, impacting communities, ecosystems, and supply chains. Being very stressful and challenging on many levels, coronavirus took a toll on health concerns, the economy has suffered dearly with higher unemployment rates and businesses shutting down or filing bankruptcy. With the slowdown in many industries, businesses face a myriad of challenges, majorly in maintaining the cash flow.
In such a situation, Porter Capital coupled with the diverse and professional team offers working capital solutions to the businesses of all scales and in varied industries. Established since 1991, Porter Capital is helping companies in getting funds when they need it the most. As a direct lender and factoring company, Porter Capital has funded $5.5 since its inception, and it has been evaluating business credit while providing businesses with cash flow and payment assurance over these years.
To know more about Porter Capital Corporation and how it can be a working capital solution provider for businesses amid the economic downturn, call on 1-800-737-7344, or visit its official website.
Company Name: Porter Capital Corporation
Contact Person: Marc Porter
Email: Send Email
Country: United States