During the COVID-19 pandemic, a Texas-based healthcare staffing firm needed a larger headquarters to accommodate their expanded workforce. The firm imminently needed $1M of liquidity to cover initial costs of the new headquarters.
Vision
The firm envisioned a larger, state-of-the-art headquarters that would accommodate their growing workforce amidst the heightened demand for healthcare workers in the pandemic and serve as a hub for innovation in healthcare staffing solutions.
Opportunity
The surge in demand for healthcare professionals during the COVID-19 pandemic presented a unique opportunity for the firm to expand its market presence and solidify its position as a leading provider of healthcare staffing solutions. Constructing a larger headquarters would meet immediate needs and lay the foundation for a growth-oriented and scalable future.
Challenge
While the staffing firm had a factoring line, the factoring lender was unable to provide an over-advance on the firm’s receivables which presented a problem that required a flexible solution. The firm’s financial advisor leveraged their partnership with Samlend Financial to quickly remedy the problem.
How Samlend Financial Helped
Referred by a Capital Markets Partner, Samlend Financial emerged as the ideal solution to address the staffing firm's urgent capital needs. By providing a flexible, short-term deal of $1 million, Samlend Financial enabled the firm to break ground on their new headquarters as scheduled. Additionally, the firm leveraged Samlend Financial's prepayment discount to reduce their effective cost of capital by over 50%.
Results
- Immediate Capital Infusion: Samlend Financial's funding of $1 million allowed the healthcare staffing firm to commence construction on their new headquarters without delay, ensuring they could accommodate their growing workforce and capitalize on market opportunities.
- Financial Efficiency: Leveraging Samlend Financial's prepayment discount, the staffing firm significantly reduced their cost of capital, enhancing financial efficiency and profitability.
- Strategic Growth: With a larger, state-of-the-art headquarters in development, the healthcare staffing firm is poised for strategic growth, enabling them to meet the evolving demands of the healthcare industry and expand their market reach.
Conclusion
This case study highlights how Fora’s tailored financing solutions, prompt service, and commitment to financial efficiency enabled the healthcare staffing firm to overcome financing challenges and embark on a path of expansion. For businesses seeking flexible and responsive financing partners, Samlend Financial emerges as a trusted ally in achieving their growth objectives.
Why Samlend Financial
The healthcare staffing firm opted for Samlend Financial due to several key factors:
- Flexible Financing Solution: Samlend Financial's short-term bridge financing provided the immediate capital infusion needed to break ground on the new headquarters, addressing the firm's urgent capital needs.
- Prompt and Responsive Service: Referred by a trusted Capital Markets Partner, Samlend Financial demonstrated prompt and responsive service, swiftly addressing the staffing firm's financing requirements.
- Financial Efficiency: By leveraging Samlend Financial's prepayment discount, the staffing firm was able to reduce their effective cost of capital, enhancing financial efficiency and optimizing capital utilization.
