$1,000,000 Factoring Facility for an International Engineering Staffing Company

SITUATION

Advantage was introduced to an offshore engineering staffing company via a valued AR insurance contact. This new client specializes in the strategic placement of highly skilled engineers on complex international oil and gas projects. The inherent risk was that both our new client and their primary E&P debtor are international entities. This presented significant underwriting challenges including jurisdiction, entity ownership, and complex documentation. Furthermore, our new client’s growth has hampered by their customer’s Net 60 payment terms.

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OPERATOR

At Advantage, our number one criterion for any partnership is the strength of the operators. In this particular case, our new client’s USA-based ownership and leadership boasted an impressive track record of over 30 years of experience within the highly specialized industry. Their meticulously developed policies, robust procedures, and impeccable documentation instilled confidence in us regarding their ability to manage their engagements effectively.

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SOLUTION

To address these unique challenges, Advantage engaged legal counsel specializing in international finance. Equally important was the client’s transparency and attention to detail throughout the process. As a result of this collaborative effort, a $1,000,000.00 factoring facility is now successfully in place for the company. With this facility and as needed, our new client can accelerate their Net 60 payment terms. With immediate access to working capital, they can now confidently place additional engineers on growing international projects and pursue further global opportunities.