Crushed Lava Rock for Landscaping - September 2016

Bill Kirth

Location: Fillmore, Utah
Industry: Crushed Lava Rock for Landscaping
Revenue: $350K per month
Line of Credit: $500,000 Factoring Facility
Collateral: A/R and Inventory

The American Dream
The company was startup providing crushed lava rock to Quickrete who in turn sells to Home Depot.

The Sterling Way - Financing Opportunity
Sterling was approached by Wells Fargo Bank to help finance the initial revenue of a projected fast-growing company in the crushed lava rock industry. The company was just starting to ship product and needed factoring quickly to support the working capital requirements of this rapid growth. The company had a single debtor and needed to fund within a week. Bill Kirth had an initial conversation with the prospect and realized that Sterling would be able to fund within these guidelines. Brian Jenks from Sterling flew to SLC and then drove to Fillmore UT for a face-to-face meeting with prospect. Sterling then performed the due diligence on the receivables and funded in a week! The initial accounts receivable generated an opening day line of credit balance of $150,000 that has since grown to over $350,000 dollars in just a two weeks. Sterling is currently looking to provide purchase order financing to help support their continued growth. Within 2 weeks of the relationship, the client had reached out to Sterling to tell them how pleased they are with their factoring relationship with Sterling.

Unlike a Bank all relationships with Sterling Commercial Credit are either factoring or asset based lines of credit with full dominion of funds flowing daily into the lockbox to minimize the cost of borrowing. The factoring and asset based lines of credit allow for daily or weekly funding. Sterling prides itself on a relationship based partnership that allows maximum access to working capital for our growing entrepreneur.

Bill Kirth
Director of Sales