QualDoc, an existing customer of Qwil powered by LSQ, recently added an AR finance facility
ORLANDO, Fla. (December 12, 2023) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $1 million credit facility for QualDoc, a Richmond, Virginia-based staffing firm. The new facility builds on an existing relationship between LSQ and QualDoc; the company is a long-time user of Qwil powered by LSQ, an integrated payroll finance solution that serves staffing suppliers across numerous industries.
For QualDoc President Stu Burgh, LSQ’s ability to move quickly to adapt to changing customer needs has been critical in the success of his company.
“Not only has LSQ been critical to funding our fast-paced growth, but they have also been the most responsive financing institution that we have ever worked with,” said Burgh. “Finding a partner that is as fast paced and responsive as a small business has been a real blessing.”
“It’s always satisfying to be able to grow our partnerships with existing clients,” said LSQ Regional Vice President DJ Krystopa. “As QualDoc grows their business, they need additional liquidity for their clients who don’t take advantage of the Qwil solution. By accessing on-demand access to cash in their other receivables, they are able to further boost their working capital position to take advantage of new opportunities.”
According to LSQ COO Richard Lee, QualDoc represents the financing possibilities when companies embrace flexibility when looking at their working capital needs.
“Companies are most successful when they have multiple levers to support their liquidity,” said Lee. “QualDoc had a great financing option with Qwil (early-payment program for managed service provider [MSP] invoices), but it was limited due to participation by their clients. LSQ was able to provide a flexible early payment solution for both MSP and non-MSP invoices, to support Qualdoc’s ongoing growth.”
QualDoc provides engineering, operations, maintenance, and logistics industrial staffing solutions, document review, and supply chain management.
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.