Behind the Scenes…
Let’s go behind the scenes of a company’s journey filled with grit, growth, and an unexpected twist. We’ll uncover how dedication and teamwork turned challenges into opportunities. For the sake of privacy, our valued current client will be referred to simply as ‘Furniture Design Co.’ or ‘the company’. But, no matter what they’re called, their story is a testament to resilience, innovation, and the power of collaboration.
Company Overview
For decades, Furniture Design Co. has been at the forefront of designing, customizing, and distributing contract-quality home furnishings across Canada. The company is dedicated to providing top-tier customer service and quality products that inspire beautiful living spaces.
The Story: Facing a Challange
Recently, Furniture Design Co. faced a significant working capital shortage due to delayed payments from Hudson’s Bay, a major client. They realized that holding lots of inventory was not ideal, and thus pivoted the business from holding inventory to delivering by the container load to new large US based retailers. This left the company in a tight spot financially.
Complicating Matters Further
Complicating matters further, a substantial amount of their funds, approximately $2M, was tied up by the bank, secured by EDC.
To address this challenge, the company sought a $600,000 factoring solution. The Capitally team was pivotal in facilitating discussions between Furniture Design Co., the bank, and EDC. Despite facing hurdles with a former owner, the company and our team remained committed to finding a resolution.
Results and Future Plans
With our team’s assistance, Furniture Design Co. secured the necessary funding to alleviate its working capital constraints, enabling it to close the deal with its new customer base. Looking ahead, they’re focusing on expanding their business and product offerings, particularly with Metal Sintered Stone from China, and streamlining their operations for greater efficiency.
Ready to overcome your own cash flow challenges and unlock your business’s full potential? Let Capitally provide the financial solutions and expert guidance you need to thrive. Contact Us Today!
