LSQ recently originated a $1 million credit facility for QualDoc, a Richmond, Virginia-based staffing firm. The new facility builds on an existing relationship between LSQ and QualDoc; the company is a long-time user of Qwil powered by LSQ, an integrated payroll finance solution that serves staffing suppliers across numerous industries.

For QualDoc President Stu Burgh, LSQ’s ability to move quickly to adapt to changing customer needs has been critical in the success of his company.

"Not only has LSQ been critical to funding our fast-paced growth, but they have also been the most responsive financing institution that we have ever worked with,” said Burgh. “Finding a partner that is as fast paced and responsive as a small business has been a real blessing."

“It’s always satisfying to be able to grow our partnerships with existing clients,” said LSQ Regional Vice President DJ Krystopa. “As QualDoc grows their business, they need additional liquidity for their clients who don’t take advantage of the Qwil solution. By accessing on-demand access to cash in their other receivables, they are able to further boost their working capital position to take advantage of new opportunities.”

According to LSQ COO Richard Lee, QualDoc represents the financing possibilities when companies embrace flexibility when looking at their working capital needs.

“Companies are most successful when they have multiple levers to support their liquidity,” said Lee. “QualDoc had a great financing option with Qwil (early-payment program for managed service provider [MSP] invoices), but it was limited due to participation by their clients. LSQ was able to provide a flexible early payment solution for both MSP and non-MSP invoices, to support Qualdoc’s ongoing growth.”

QualDoc provides engineering, operations, maintenance, and logistics industrial staffing solutions, document review, and supply chain management.