Here at the Commercial Finance Group (CFG), we are proud to provide a bridge to bankability for countless clients. For decades we have been acting as a conduit for businesses who need financial solutions that traditional banking institutions cannot offer. We view our role as a temporary but necessary bridge that allows these businesses to get back on track and on the road to bankability. From bankers who need help finding a solution for their clients to startups who are looking for a flexible lending solution, we have offered a means for the unbankable to find the right lending solution. Whether you are searching on behalf of your client or you are a business in need of a new lending solution, we will be happy to help you find the right solution for your specific needs. Read on to learn more about how we have recently been able to successfully act as a bridge for a client who needed an immediate lending solution.
The Bridge is Real
Bridging clients to the bank — a story of success
Recently, we had the pleasure of aiding a transportation technology company with their lending needs. The following story is one shining example of how our team at CFG can work with companies to find the right lending solutions for growth and progress.
CFG was first introduced to Mark and his company in late 2016. They had some serious performance issues and had tripped their bank covenants. CFG was introduced and provided the company initially with a $1.8MM ABL credit facility. Over a short period of time, and due to the substantially improved performance of the company, CFG increased the facility to $2.5MM. By using CFG as the bridge, the company was able to gain access to a cost competitive senior credit facility. This allowed the company to continue their rapid growth and not have to dilute the equity position of the owner. After a continued solid performance and an increase to their backlog, in early 2018, our Client was in need of a substantial increase in their credit facility. “We recognized the need for a transition to a larger ABL company to provide for the next level of growth,” says Calvin Blount, SVP of Sales. CFG then introduced the company to two bank financing options who could facilitate the next level of financing for the company. With the combined support of a new bank ABL credit facility, along with some private equity raised at a more opportune time, the company is poised for substantial growth.
Understanding Who We Are
Here at the Commercial Finance Group, we have over 43 years of experience working with small businesses across the United States and Canada. Our clients range from startups to established businesses to high growth-oriented companies to those that have simply hit some challenges. We bring a substantial amount of experience to the table, as well as a detailed approach. At CFG we offer a few different lending options. We can work with you to determine if factoring or asset-based lending is the right fit for your company.
Our team is comprised of experienced professionals. In fact, among our senior management and sales staff, we have more than 250 years of combined experience in the asset-based lending industry. This incredible amount of knowledge is what allows us to take such a tailor-made approach to our lending solutions. When you work with CFG you are working with a wealth of knowledge and a dedicated team of individuals who want to see your business succeed.
Our Method
As you can see from the above story, we work to ensure our clients are utilizing the funding solutions we offer as a means for growth and forward progress. We do not see our role as permanent but instead, we see our team as being there to guide a company through one chapter of their business’ growth. When the time comes, we will help our clients move towards other lending solutions. Our method is simple. First, we take the time to understand your business. This is far more than just a quick dive into your company’s financials. During this stage, we work to get to know you, what your goals are, your company’s mission, and more. We want to truly understand your business in an in-depth manner so we can accurately pair you with the right lending solution.
Next, we will provide you with the options we see as good solutions for your company. We will offer you these lending opportunities and work with you to determine what you feel comfortable with utilizing. Once you have chosen to move forward with a lending opportunity, we will help you create a plan for the ideal way to put your new funding to work. We want to help you use this as a bridge to success, not as a dead-end. Finally, when the time comes, we gladly will step back and allow you to move into the world of traditional banking.
Here at CFG, we work with an array of businesses. We can assist companies with revenues between $500k to $40mm. Whether you are a small startup just getting off the ground or an established business that has hit a roadblock, we are here to work with you. Reach out today to find out more about how we can help and to utilize our bridge to bankability.
