ORLANDO, Fla. (February 6, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $6 million account receivable credit facility for a Pennsylvania-based IT services provider.
The company was referred to LSQ by a strategic banking partner. The additional working capital will be used to pay off an existing line of credit and support new services offerings and other growth opportunities.
As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.
“As the economy continues to change, we are seeing a greater need for working capital for businesses looking to grow,” said LSQ Regional Vice President DJ Krystopa, “and as companies like this one outgrow their existing lines of credit, they have to find new levers to pull to maintain liquidity. AR finance is a great option.
“I’m thankful for the trust that the client has put in us to support them and for the bank partner who made the introduction.”
LSQ offers (and partners on) myriad financing options, including accounts receivable, inventory, and supply chain finance in facility sizes ranging from $250,000 to $200 million. We can help companies of all sizes and stages solve for high growth, challenged credits, tripped covenants, high debtor concentrations and bankruptcies.
About LSQ | lsq.com
LSQ is a market leader and pioneer in working capital finance and payments solutions. For more than 25 years, LSQ has leveraged innovative technology, credit and risk expertise, and proprietary data that empowers thousands of businesses to optimize their working capital, automate and accelerate payments, manage collections, and mitigate risk. Every year, we accelerate billions of dollars in payments to businesses and their suppliers through our LSQ FastTrack platform to help them obtain the funds they need to grow and thrive. LSQ is headquartered in Orlando, Florida. Learn more at www.lsq.com.