Richard Beauchamp
Fenton, MI (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Tri-County Protection Services
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Startup
Location:
Fenton
Industry:
Legal
Year Founded:
2007
Number Employees:
10-50 people
Description:
Newly formed private security company is experiencing rapid growth and needs cash flow funding. Our company is made up of former or current police, military or experienced security. We are the quality security provider for our region and are adding quality customers monthly. We pay payroll bi-weekly and collect on billings after 30 days thus creating cash flow shortages relating to our rapid growth. Receivables have grown tenfold in the last 90 days and we are adding a local school district as a customer which will further compound our cash flow issues. We are less than two years old so banks won't fund us and owners have contibuted all they are able. We have a 40% gross margin and current customers are covering fixed costs.