Technology Talent is a profitable 9 year old IT staffing company providing consulting services to Fortune 500 and Government agencies. Since its inception, it has relied on the retained earnings and capital from family to support its cash flow needs. Early in 2014 Technology Talent was presented with an incredible opportunity.
"We have a diversified and impressive customer base. One of our larger IT consulting customers approached us on a time sensitive and complicated project. Almost overnight we had to begin recruiting and hiring highly specialized and expensive consultants to our payroll and to make matters more difficult, this customer requires net 60 day terms. We simply did not have the working capital to support almost a 30 percent increase in our payroll demands." Technology Talent has a strong balance sheet, retained earnings and excellent guarantors; however the principals are not U.S. Residents.
"We approached several banks with our dilemma and none were in a position to help us given my immigration status. Thankfully, one of the lenders we spoke with encouraged us to contact Gateway Commercial Finance." Gateway was able to act quickly and provide Technology Talent with an adequate line to support its increased payroll demands. "It was a stressful time for us and from our initial phone call thru the first funding Gateway made the process easy to understand and straightforward."
America is the land of opportunity for anyone who works hard and tries to achieve their goals. But there are certain areas of the corporate world where being someone from another country can be a problem, especially when an opportunity arises that requires immediate and substantial payroll funding.
Many of the technology consulting staffing companies that find success in the United States are established by people who come to the U.S. from other parts of the world. These are people who work hard and do what they can to establish strong and profitable businesses. When growth is manageable, then America is the land with streets paved with gold. But when growth immediately exceeds cash flow, then those roads get tarnished and problems arise.
It staffing companies are often presented with opportunities that happen quickly and require complicated payroll funding. Since the technology world is so dynamic, it is not unusual for a large corporation to ask one of its current technology suppliers to take on a large project that could significantly increase the size of that technology company. The problem is that some large corporations want to submit large invoices and require extended payment terms. That leaves the upfront payrollfunding to the tsaffing company, which means that the IT staffing company has to find a solution immediately or let the opportunity pass.
Banks can help in many funding situations. But when it comes to companies owned by foreign interests with foreign investors, many American banks tend to shy away from those types of situations. That is why the financially savvy technology contractors call IT factoring companies to help create the payroll funding for staffing companies they need for their projects.
As an IT factoring company, we are only concerned with your company's invoiced sales and your customer base. The immigration status of your company's owner and primary investors has no implication on the service that we offer. When your IT staffing company is presented with the opportunity of a lifetime and you need to enhance your payroll funding immediately, we have the IT factoring services you need to hire talent and meet the needs of your customers.
Our business experts will work with you to establish your a payroll funding for staffing companies account and start turning your qualified invoices into cash. We will give you the financial stability you need to hire all of the necessary talent and bring in the other resources necessary to take advantage of the business deal of a lifetime.
In the land of opportunity, it is good to know that anyone who is generating invoiced sales can get the cash they need to take their business to the next level. With our IT factoring services, we can take your invoiced sales and turn it into seed funding for all of your biggest projects. We not only help you to meet the needs of your most immediate opportunities, but we also give you the flexibility you require to keep searching out more contracts and take on even more business.