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A textile and apparel manufacturer required credit accommodations to keep from shutting down. The national corporate finance company that had been providing factoring services began experiencing financial stress itself, and could no longer provide adequate working capital.
The manufacturer was forced to find an alternate source of immediate financing.
In March 2009, Franklin provided a stitch in time - $1.3Million in credit accommodations.
The manufacturer paid off the national corporate finance company.
Resumed normal business operations with newfound financial stability.
“ Franklin took the time to understand our needs as soon as we started working with them.” President
CA based game board distributor was short of working capital, which limited its opportunities for growth. In addition, its overseas supplier relationships were becoming increasingly difficult, because of slow payments.
This distributor turned to Franklin for a combination of Accounts Receivable and Purchase Order financing.
Franklin provided a Letter of Credit to the Distributor’s vendor that incorporated product specifications, delivery conditions and quality control requirements, thus helping control risk.
Franklin’s financing enabled this distributor to diversify their product offerings and thrive.
Franklin’s Purchase Order Program allowed the distributor, through Letters of Credit issued to its suppliers, to make its payments contingent on the performance of its suppliers; therefore, substantially mitigating a significant risk for the distributor.
“ When our competitors see us growing, they often ask us how we have grown so quickly. We are only 8 years old. They ask us how this is possible. It’s all due to working with Franklin.” President
Franklin Capital provides Equipment Financing and Leasing to our Accounts Receivable Purchase clients. This service enables a company to obtain financing or refinancing based on the value of its machinery and equipment.
By financing up to 100% of the equipment costs, clients conserve working capital.
Preservation of working capital
Preservation of client’s credit lines
100% total financing
Leasing provides tax benefits
Versatility (e.g., taking advantage of profitable opportunities, responding to emergencies)
“ Franklin customizes the protocol for customer needs. They eased up our cash flow situation with a seamless integration of complimentary credit programs.” President, CA based Home Furnishings Manufacturer
A mass mailing company based in Illinois required credit accommodations to finance the acquisition of assets that were being sold by a trustee during the liquidation of assets of a predecessor in the context of an Assignment for the Benefit of Creditors.
Franklin Capital Network provided $1.9 Million for the company to consummate the acquisition of the assets and requisite working capital; and, subsequently, provided an additional $500,000 for the acquisition of additional mailing equipment.
Working with Franklin enabled this mass mailing company to resurrect their business and achieve 29% sales growth and meaningful profitability, even with tight cash flow during a period when many mass mailing companies closed their doors.
“ We were in a difficult position as a Start-Up trying to obtain financing through traditional sources. Franklin was willing to take a chance on us and help our cash flow. Franklin has had a tremendous impact on our being able to grow and prosper.” President
Franklin Capital provides inventory loans to its Accounts Receivable Program clients. We can advance up to 50% of the cost of a client’s inventory.
Inventory financing increases a client’s flexibility in the marketplace and addresses seasonal sales requirements. Coupled with Accounts Receivable financing Franklin’s Inventory Financing Program enables a client to generate sufficient funds to achieve its performance goals.
“ Franklin has a source of money that is consistent and they manage their portfolio properly. It’s a very secure feeling and you need that in this economy.” President, IL based frozen food distributor
A once thriving craft goods distributor was suffocating under the weight of its massive inventory in a sluggish economy.
Their bank cancelled the company’s line of credit, leaving them on the brink of shutting their doors.
Recognizing the strength of the company’s assets, Franklin provided credit accommodations of over $500,000 on inventory and $600,000 on receivables to meet daily cash flow while the company transformed its core business.
In the two years working with Franklin, the company has gone from impending closure to reinventing themselves and prospering in a time of economic turmoil.
“ Franklin Capital’s Management Team knows a lot more about business than normal bankers. They allowed us to stay alive.” President
Franklin Capital Network Advantages Vs. Bank Financing