JPaulJones (JPJ) is a company that develops, manufactures and distributes unique consumer products. These products are then sold and distributed to big box stores (Target, Wal-Mart, etc.), specialty shops and electronic retailers along with direct channels like QVC.
The issue for JPJ was that the large, high credit accounts they were working with required larger and larger orders. In order to keep up with these orders, JPJ needed cash to invest in inventory. The decision to factor was made because of the ease of cash flow and the desire to keep all of the equity in the company.
“Bank loans were not an option,” said Terry Jones, Owner, “The only other option would be to sell shares and dilute equity. Factoring gave us the cash required to purchase inventory.”
JPJ has always had positive experiences with Evergreen. The application was very efficient and quick compared to other financial companies they had worked with, which made the process enjoyable instead of a chore. “Evergreen has been very responsive, providing positive and helpful feedback along the way,” says Jones. With the help of Evergreen, JPJ was able to get the cash flow they needed to keep their business growing.
“Evergreen has been one of the best finance relationships that I’ve ever had.” - Terry Jones
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