LSQ originated a $6 million account receivable credit facility for a Pennsylvania-based IT services provider.

The company was referred to LSQ by a strategic banking partner. The additional working capital will be used to pay off an existing line of credit and support new services offerings and other growth opportunities.

As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.

“As the economy continues to change, we are seeing a greater need for working capital for businesses looking to grow,” said LSQ Regional Vice President DJ Krystopa. “And as companies like this one outgrow their existing lines of credit, they have to find new levers to pull to maintain liquidity. AR finance is a great option. I’m thankful for the trust that the client has put in us to support them and for the bank partner who made the introduction.”