When Branford's Originals finally got their big break in retail storefronts, they experienced a rapid influx of purchase orders almost overnight. While this was great for their business, they quickly found themselves without the capital solutions needed to fund the new growth. We'd like to share how our client, Branford's Originals, overcame their cash flow issues to continue scaling their business month after month using invoice financing with LSQ.

Challenge

Everardo Branford, Owner of Branford’s Originals, launched his sauce company in 2007 based on recipes that lived in his family for generations. As an avid lover of sauces, marinades, dressings, and spices, Everardo had always dreamed of sharing his collection of family recipes for the rest of the world to enjoy. This passion led him to start his first business out of his own home.

“It was pretty much just me from day one, cooking and creating sauces. It started out that way because it’s what I like to do.”

For the first 10 years, Everardo relied mostly on self-financing, including loans from his 401(k), friends, and family to keep his business afloat. Being minority-owned, he was also granted a group-funded business loan from a non-profit provider to help get him started. However, things changed quickly when Everardo landed a massive retail deal with Publix, secured by his distributor on the east coast.

Almost overnight, his sales increased by 1,000% and Everardo needed to secure financing to meet the demand. He approached his bank, but was denied a loan due to his company’s lack of credit history and previously low sales volume. Luckily, he had invoices for his orders, and his banker realized he would be an ideal fit for invoice financing. With little time to spare, Everardo was introduced to LSQ.

Solution

LSQ embraced Everardo’s burgeoning operation and saw potential where the banks had only seen risk. After a quick underwriting process, Bradford’s Originals was approved for an 80% advance rate on all invoices. He now had the financing he needed to keep up with his orders.

“Out of nowhere, LSQ to the rescue. They opened their doors for me.”

Soon, his purchase orders began surpassing the six-figure mark, he then realized he needed additional capital to fund the cost of raw materials. So LSQ helped him secure additional working capital by financing his purchase orders through their partner, Global Trading Partners.

But recent success isn’t the only benefit that Everardo reaped from LSQ either. In addition to obtaining flexible funding, he enjoyed “affordable pricing”, a dedicated client service team, and the ability to make informed credit decisions about his customers and access his funds the same day using LSQ Dashboard.

“Dashboard is excellent, I like that it’s self service and that I can just upload my invoices and have a choice to either have the money wired that day or have it sent via ACH.”

To Everardo, what seemed like a dream ten years ago, has now become reality. Demand for his product line of homemade sauces has continued to increase in popularity amongst major grocery stores and mom-and-pop shops across the Southeast.

"LSQ has treated me with the utmost respect and has done a lot for my business, which I really appreciate. All I can say is trust in LSQ, they are the real thing.”