Concrete Mixing & Delivery Business
Challenges:
An experienced ownership team had re-established operations of a concrete mixing and delivery company after the expiration of a 5-year non-compete clause. They quickly won back previous customers and added many new ones, but the explosive growth of their new business presented major cash-flow challenges.
Solutions:
LendSpark looked beyond their limited time in business and, valuing their deep industry experience, structured a short-term bridge loan. That financing allowed them to grow their operations until they had a strong enough Accounts Receivable base to obtain an Accounts Receivable “factoring” line.
Results:
LendSpark’s multi-step funding strategy has fueled business growth and allowed for the addition of a second plant location. Based upon our business insight, we’ve been engaged to consult on financing, cost reduction and business growth strategies.
