Hennessey Capital Launches Factor Finance

Huntington Woods-based Hennessey Capital LLC, a Michigan-based specialty finance company providing working capital to small and mid-sized businesses, announces the launch of its new Factor Finance service. The program will provide factoring companies access to working capital lines of credit to help them service their clients.

Hennessey Capital President Mike Semanco says the new service will not only provide lines of credit up to $3 million, but offer an opportunity for factors to benefit from Hennessey Capital's experience in the industry.

"Through Hennessey Capital, we have provided our clients the working capital to grow their business," Semanco said. "We have also helped factoring companies with their financing needs and have partnered with banks on loans and assisted with monitoring collateral for their clients. Factor Finance combines this experience and offers factoring companies the ability to grow their client base. It can be challenging for many factoring companies to obtain sufficient capital from banks, due to the specialized nature of the business. Hennessey Capital's Factor Finance service is intended to help smaller factoring companies gain access to lines of credit so they can, in turn, help their clients succeed."

Factor Finance will be offered to factoring companies across the Untied States and is designed for those not able to reach the minimums of larger lender finance companies. To learn more about the program, contact Hennessey Capital Chief Credit Officer Candi Pavliscak at (248) 658-3204 or cpavliscak@hennesseycap.com.

Hennessey Capital provides working capital for growing business-to-business companies that are either pre-bankable but post-revenue, in transition or otherwise do not meet the credit guidelines of traditional bank lending. Products and services include factoring, asset-based lending programs, receivables management and business coaching. Hennessey Capital is part of the Hennessey Group of companies, including Hennessey Enterprises and Hennessey Ventures.

Visit www.hennesseycap.com for more information.