The Client
Last updated on March 15th, 2022 at 04:29 pm
- Current Client
- Location: Baltimore, MD
- Business Model: Temporary Staffing
- Industry Vertical: Light Industrial & Hospitality
“I consider Advance an extension of our business. There are a multitude of different ways in which Advance goes above and beyond just being a funding company, to allow us to be successful.”
– David E., CEO
Background/Problem
‘ABC Staffing’ quickly got into a financial crunch when payroll ate up their $500K line of credit in just a few weeks. ABC Staffing considered Advance and one other funding company, and decided to go with the other payroll funding company.
“We realized a traditional line of credit from a bank would not support the growth we were working towards, and knew we needed to switch to a payroll funding company. We chose a funder based more on software than anything else.”
ABC Staffing utilized both payroll funding and back office services, but had a very poor experience with the company they chose.
“The service we received from [name omitted] was terrible. The technology implementation and flow through we were promised was terrible. If we requested anything, it came with a fee – we felt like we were at their mercy because we had to make payroll on Friday.”
The Approach
When things didn’t go as expected, David knew they needed to make a change. David circled back to Advance, and had a much different experience.
“Right from the beginning, there was a very personal relationship. Whatever we needed was handled expeditiously. I get the same level of responsiveness, support and urgency as I do out of my own employees.”
The Results
When David came to Advance, his firm’s annual billings were $1 million. Within three years, annual billings increased to just under $7 million, and he’s expecting to achieve $10M in year four. And just as important to David, the service level has remained exceptional.
“I know for a fact we would not have achieved the growth we’ve had without Advance. We’ve received back office, legal and strategic advice, plus the capital we needed. It’s a partnership which we would not have gotten anywhere else.”
