Dawn, a renewable energy contractor in California had a good problem – more work than she could handle. Her company enjoyed a great reputation for operations and maintenance of wind turbines and wind farms. She was presented the opportunity to take on additional work, but needed to hire more people to service the jobs. Because of the established payment terms with her customers, meeting payroll every two weeks had always been difficult. She needed to improve cash flow in order to make it all happen, so she looked into accounts-receivable financing.
Dawn spoke to TCI Business Capital about her options. She received a quote and approval on an accounts-receivable financing line right away. After carefully considering her options, including making sure the line would be able to grow as her company grew, Dawn moved forward with TCI Business Capital. Within a few days, TCI closed on an accounts-receivable financing line to Dawn’s company, which improved cash flow, enabling her to accept the new contracts and continue growing the company. Specifically, this line allowed the company to stay current on its payroll, purchase the necessary supplies and equipment for the new hires, and have operating cash available.
Today, the expansion and growth of Dawn’s company continues as she continues to win new contracts. The company’s improved cash flow is managed through the accounts-receivable financing line. With the cash she has available, Dawn is finding it much easier and less stressful to cover the daily and weekly expenses that come with running a growing business. As the company has continued to expand and grow, the accounts-receivable financing line has grown as well. In fact, because of her increased volume, Dawn’s rates have decreased. the future is bright for Dawn’s company, as more renewable energy projects come on line, the opportunity for expansion into other states is a real possibility.