Late-paying customers turned this unprofitable $10M-revenue software company into a late payer itself, most painfully evidenced by the costly late fees imposed by the mezzanine finance company that had provided a sorely needed short-term loan. Shunned by banks, the company turned to Marble Bridge, which wasted no time in:
- Paying off the short-term loan — and putting an end to stinging late fees.
- Providing $1M in funding to stabilize cash flow and permitting the company to refocus on its strategic goals.
- Allowing the no-longer-distracted management to complete a $30M software IP sale.
The proceeds provided the resources for new product development — and a new phase of internally financed corporate growth.