Specialty Finance Startup Company established in Buffalo, New York closes $5MM round of equity and $35MM of funding to support Small to Medium Sized businesses nationwide.
Culain Capital Management (Culain) officially launched a new Specialty Finance company focused on Accounts Receivable Funding in May, 2022. Culain was founded by Jamie Franz, a former Partner at Keltic Financial and Managing Director at Ares Commercial Finance, Joseph Heim, a former Partner with Dopkins & Company, James Jarosz, a former M&T Bank executive and market manager in WNY and Fred Kulikowski, a former President and COO of Commercial Federal Bank who for years held Senior Executive positions at both Citigroup and M&T Bank in Western New York. The strategic vision of Culain is to revolutionize the factoring industry by providing best in class service and rates, along with above-market commissions for their referral partners.
“At Culain, we are Client-Centered, meaning our mission is to help our clients identify, understand and improve their working capital through efficient and effective funding and financing solutions. We are client needs driven, not product driven,” Joe Heim, Chief Credit Officer of Culain, said. “My partners and I have extensive experience listening to business owners and management describe the volatile nature of operating their small and medium sized businesses. In the current economic environment, companies are experiencing pressure from both their customers and suppliers. Customers are taking longer to pay, resulting in accounts receivable to age beyond normal terms. Suppliers are still experiencing supply chain constraints resulting in a tightening of selling terms to their customers. At Culain, we understand these dynamics and we have sufficient capital to quickly fund companies, be responsive to our industry partners and provide banks with an off-ramp for customers that no longer meet the parameters of their loan portfolios.”
The startup through its wholly owned subsidiary Culain Capital Funding will be focused on accounts receivable funding transactions ranging from $250,000 to $5 million. “We want to help both sides of the market – providing working capital to businesses and providing banks with an alternative source for underperforming customers,” said Heim.