HomeCoast In Action

What Our Clients Are Saying About HomeCoast

"My business was literally month-to-month. My business partner and I would sit down with the finances at the end of the month and have a hard discussion about closing the doors. We had over 20 employees counting on us. We just couldn't solve the cash flow crisis. Our customers' slow pay held our cash flow for ransom, keeping us from completing our next project. The day my HomeCoast rep walked through our door was the day our business turned around. Now, we have the cash we need to deliver projects on time."
-Ryan, Creative Director for a Graphic Design and Marketing Firm

"I was skeptical about factoring because of some horror stories I've heard from some of my business associates. From the moment I spoke to my Account Executive at HomeCoast, my concerns were put to rest. They were knowledgeable, honest and I couldn't believe how easy it was. I'm so thankful that HomeCoast contacted me."
-Martina, CFO for an Industrial Manufacturer

"We had the opportunity to bid a huge project that our competitor dropped the ball on. We needed to get some cash to staff up and prepare to handle this opportunity. I went to my bank…turned down. Another bank…turned down. They didn't like the fact that we had negative growth in the last year. Nevermind that we had double-digit growth for the previous 8 years! After being turned down by 5 banks, we accepted the fact that we would have to pass on the project. HomeCoast Capital met with us and put together a finance strategy for getting us the cash we need. They had all the answers to our questions and their rates were very reasonable. Long story short, we won the project and are on track for our most profitable year in 9 years!"
-Doug, Operations Manager of a Steel Fabrication Plant

Spotlight on Success

Problem: A staffing company is constantly waiting 60 to 90 days to get paid from their customers. Their staff is 100% commission, so they are having horrible employee turnover due to inability to collect fees in a timely manner to pay the sales force.
Solution: HomeCoast set up a receivables financing relationship and took their turn time on invoices from months to days.
Result: The client was able to hire back two of their top sales reps that had left the company, as well as three experienced recruiters, because they can offer something that their competition cannot-an immediate return on the sales rep's efforts.

Problem: A boat manufacturer had their warehouse burn to the ground, completely destroying all inventory and supplies. They had numerous orders to fulfill and no cash flow to do so.
Solution: The client had 2 large purchase orders that HomeCoast Capital was able to finance, giving them access to enough cash to begin filling their current orders.
Result: Although it took some time to get back to full operating capacity, the client was able to start generating revenue almost immediately after the tragedy, keeping them in business and allowing their cash flow to replenish over time.

Problem: A screen printing company had the opportunity to branch out into the uniform sales market, which would triple their gross sales within two years. They needed two large pieces of equipment. However, they did not have the cash to purchase the equipment and could not qualify for a lease due to the owner having a past bankruptcy.
Solution: The client had purchase order commitments from several uniform companies. HomeCoast was able to finance those purchase orders and provide the working capital to purchase the two pieces of equipment immediately.
Result: Within weeks, the client was producing product and fulfilling orders. They have had so much success in the uniform market that they have completely overhauled their marketing and sales emphasis to focus on this new opportunity. They predict that the uniform market will be over 50% of their total product mix by year end.