Cajun Power Industrial Services services natural gas and diesel generators.
Cajun Power Industrial Services was positioned for growth, but the company’s cash flow lagged because of a 90-day wait on checks and a 20-day wait on credit payments. Also, high interest rates meant Cajun was spending thousands in interest every month for credit card fees. With stifled growth from these issues, Cajun didn’t have the collateral to acquire a traditional bank loan.
The bank suggested invoice factoring and referred Cajun Power Industrial Services to Evergreen. The company signed on for a short-term trial, but Evergreen made the factoring process so smooth and effortless that the leadership team decided to maintain the relationship as they scaled up.
Since signing on with Evergreen 2.5 years ago, Cajun Power Industrial Services has grown rapidly. The company has gone from six employees to more than 50, and its revenue this year is projected to be 20 times what it was when Cajun began working with Evergreen. The company now easily qualifies for traditional bank financing.