Solution Spotlight: 
Custom Service, Custom Solutions

Learn how Marquette Commercial Finance can help your business grow.

Submit

Marquette Commercial Finance (MCF) has helped many companies receive the financing they need to grow. Using alternative lending to leverage accounts receivables allows companies to expand and add services even if that growth may not qualify for traditional bank financing.

Copyright © 2016 UMB Financial Corporation

CHALLENGE: Sustained growth for this staffing company made flexible financing difficult to obtain quickly.

 
Custom-built solutions
 
To support the rapid growth of the staffing company, MCF used working knowledge of the company’s operations to structure a financing program customized to its business. Despite the competition from the larger lenders, MCF’s solution was able to provide flexibility and terms that the others could not. MCF increased the staffing company’s line of credit to $15 million and provided an additional $7.5 million facility guaranteed by the minority owner private equity firm. MCF also made a price adjustment consistent with the increased volume expectation of the company and their positive working relationship.

 

About Marquette Commercial Finance

Marquette, a subsidiary of UMB Bank, n.a. located in Bloomington, Minn., is a leading provider of accounts receivable financing solutions, serving companies with annual revenue from $2 million to $400 million. Marquette assists companies in meeting their working capital needs to drive growth, fund acquisitions, improve liquidity and fund restructures. Marquette is small and nimble, which allows it to control how it manages and offers its services, yet it’s also backed by the strength of its parent company, UMB Financial Corporation, which allows the company to extend larger financing packages.

SOLUTION: MCF’s creative structuring accommodated the company’s growth and provided a foundation for expansion.
 
Continued success

The company obtained MCF accounts receivable financing with custom terms that meet the demands of the staffing industry, without the limitations of traditional bank lending. With the liquidity and lines of credit it needs in place, the company was able to enhance its technology offerings, add new clients, and contract with additional freelancers to provide the services its clients need. Additionally, the flexibility of MCF’s financing program gives the staffing company room to grow in the future as it continues to expand and add to its offerings.
 
 
 
The Bridge to Success 
 
In an industry with distinct challenges, it’s important to partner with a lender that understands the needs of your company and can provide flexible solutions that aren’t one-size-fits-all. MCF is uniquely positioned to meet the financing needs of the staffing industry by offering the strength of a bank with a size nimble enough to quickly process working capital programs. Alternative lending can help companies bridge the financing gap left by traditional banks, including funding rapid growth and new ventures. 

Company background

This Midwest staffing company provides freelance technicians for information technology support and project management to companies across the U.S. Since its founding in 2008, the staffing firm has grown rapidly and plans to continue to expand its client base and operations. Due to this significant growth, the company partnered with Marquette Commercial Finance, which provided a $5 million accounts receivable line of credit.

Rapid growth

Even with the MCF line of credit, the company’s book of business grew so quickly it needed additional financing, but with the unique payment timelines of the staffing industry, traditional banks were unable to offer the financing required. The company began looking to national asset-based lenders to accommodate its needs. It contracted with a private equity firm that became a minority owner, which then began directing the company’s finances, including requesting term sheets from 4-5 other large, national lenders that specialized in the IT industry. 

DiAne Reed is the Executive Vice President and National Sales Manager for Marquette Commercial Finance. She has more than 35 years of experience in the financial services industry and is active in the industry as a member of the International Factoring Association and Commercial Finance Association.

Fix the following errors:
Hide