BIRMINGHAM, Ala., Jan. 23, 2025 -- Porter Capital, a leader in specialty financing solutions for businesses nationwide, proudly announces the successful completion of a financing agreement for an international healthcare staffing agency headquartered in Virginia. The agreement, consisting of a $15 million factoring facility and a $5 million term loan, replaces a conventional loan, injects critical liquidity, and helps the agency avoid a pressured majority sale to a private equity firm.
Referred to Porter Capital by a trusted banking partner, the healthcare staffing agency needed refinancing to address several challenges, including a drop in revenue from its COVID-19 peak, a necessitated buyout of a major shareholder, and a reduction in its available credit. In addition, the tight timeline, compounded by the holiday season, required Porter Capital to work swiftly and creatively. By leveraging both factoring and term loan solutions, Porter Capital enabled the staffing agency to retain control of the business while positioning it for future growth and profitability.
"This transaction showcases our ability to move quickly and structure innovative financing solutions under tight deadlines," said John Cox Miller, Senior Vice President, National Sales Manager, at Porter Capital. "We're thrilled to help this healthcare staffing firm secure the liquidity they need for operational stability and future growth."
With offices around the globe, the staffing agency brings deep expertise to domestic and international markets. Its diverse portfolio and strong leadership in the field foster partnerships with government agencies, international organizations, and the private sector worldwide. With an immediate financing solution in place, the agency has the runway to stabilize operations, rebuild revenue streams, and pursue higher valuation opportunities in the future.
The Chief Legal Officer of the healthcare staffing agency stated: "We met with seven other alternative lenders, and Porter Capital emerged as the best of the best. Porter's commitment to face-to-face collaboration was refreshing. They worked tirelessly, even through two holidays, to deliver both factoring and a term loan, ensuring no gaps in our financing needs and flexibility to support our long-term objectives. One word to sum up our experience with Porter Capital: excellent."
Marc Porter, CEO of Porter Capital commented, "This financing package exemplifies Porter Capital's commitment to delivering tailored solutions that meet the unique needs of our clients, even under challenging circumstances. It's partnerships like these that underscore our dedication to helping businesses thrive."
The successful closing of this deal underscores Porter Capital's reputation for handling complex, non-traditional transactions, even under challenging conditions. It also builds on the firm's strong referral partnerships with banks, brokers, and consultants who trust Porter to deliver flexible and timely financing to clients.
About Porter Capital
Porter Capital Corporation was founded in 1991 by brothers Marc and Donald Porter in Birmingham, AL. Porter offers working capital solutions to businesses all over the country in a variety of industries. As a direct lender and factoring company, Porter Capital has provided billions in funding since its inception. Porter Capital offers Invoice Factoring and Asset Based Credit Lines up to $25 million. Since founding the company, Porter Capital has expanded to include a special transportation division known as Porter Freight Funding. The Porter businesses continue to grow by providing working capital solutions, emphasizing personalized, dedicated customer service without sacrificing speed and efficiency. To know more about Porter Capital Corporation and how it can be a working capital solution provider for businesses, call 1-888-865-7678 or visit www.portercap.com.
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