A GROWTH STRATEGY’S DESIGN
Pehr Designs, founded by Jennifer Kelly and Rebecca Perren, quickly gained traction in the lifestyle market, necessitating a financial solution to manage rapid expansion.
“We were self-financing, but as we got more sales, I had about $150,000 in A/R that I wasn’t going to see for at least 60 days.” – Rebecca Perren, Pehr co-founder
Transitioning to conventional bank financing, facilitated by A/R factoring and PO financing from Jonathan Brindley and his team, propelled Pehr’s growth.
“We considered other alternatives, but ultimately chose Jonathan and his team because they took the time to help us understand the philosophy behind factoring and remained involved every step of the way.” – Rebecca Perren, Pehr co-founder
ARRIVING AT LARGE RETAIL CLIENTS
Factoring and PO financing enabled Pehr to secure major retail contracts, significantly boosting revenue and streamlining operations.
“Jonathan and his team helped us access cash up front, made payments when needed, improved our timing to get receivables, and set up payment cycles with our factories to get the business moving.” – Rebecca Perren, Pehr co-founder
AN IMPORTANT “FACTOR” FOR MAINTAINING INVENTORY LEVELS
Perren credits factoring for Pehr’s ability to maintain inventory levels, sustain production, and pay suppliers promptly.
“Factor financing made it possible to get through a 12-18 month period where we needed to keep driving business growth.” – Rebecca Perren, Pehr co-founder
A QUICK AND EASY BRIDGE TO BANK FINANCING
With factoring in place, Pehr expanded its consumer base, increased sales, and tackled larger orders, paving the way for eventual transition to bank financing.
“Canadian businesses should take advantage of PO financing and A/R factoring when they don’t yet qualify for bank financing. It’s easy, efficient, and really helped our business grow.” – Rebecca Perren, Pehr co-founder
