ORLANDO, Fla., Nov. 29, 2022 /PRNewswire/ -- When Hurricane Ian hit Florida in late September, more than 2.5 million homes and businesses were without electricity throughout the state. Once the danger from the storm subsided, crews quickly got to work assessing the damage and planning restoration of power.
One such company - based in Orlando - was the first on the scene in many parts of the state and its team realized that in order to get vital utilities restored quickly, they were going to need to ramp up quickly. That would require more people - and getting those people was going to take working capital.
To meet the need, the company turned to LSQ, a long-time partner that had been providing them with invoice financing for more than six years. To help them respond to Ian, LSQ was able to increase their facility to $50 million.
"We have had a great relationship with the company over the years," said Ravi Kissoon, Portfolio Manager at LSQ. "They have provided critical services for communities impacted by more than 75 storms and having funds that can scale to the size of the response required has been critical to their success. We are proud to have played a small part in the work they have done."
LSQ offers (and partners on) myriad options, including accounts receivable, inventory, purchase order 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 challenged credits, tripped covenants, high debtor concentrations and bankruptcies.
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.
SOURCE LSQ Funding
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