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Anonymous Director, Finance and Business Administration

Need factoring or asset-based lender suggestions for Mass SaaS private company

Asked on May 14, 2018

Hello all, We are a very small (less than 20 people) SaaS company in Massachusetts looking for recommendations for a company that does a Factoring of Receivables or an Asset-Based lending. We are not venture-backed. If anyone has any suggestions, that would be greatly appreciated.

Answers

Jon Placa Director of Finance and Operations • May 16, 2018

SVB, Comerica, and/or SquareOne Bank will provide some form of venture debt (whether it's a term agreement or asset-backed revolver).

Bessemer has a great write-up on the pros/cons of startups taking on Venture Debt, I suggest you take a quick read: https://www.bvp.com/sites/default/files/Bessemer%20Guide%20to%20Venture%20Debt.pdf

If you are just looking for a short-term refactoring, there are a number of invoice refactoring companies online.

Jake Mora Owner • May 17, 2018

Good day,

I'm not a factoring company but if I may I'd like to suggest a company I refer my clients to:

Factor Finders, LLC
216-292-5660
[email protected], [email protected]

They work with pharma companies, large manufacturers, etc.

Thank you,

Jake Mora
JM3 Corp

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