How to Choose the Right Lender

As members of a large industry, we want to help clients find the right financial partner with the right solutions to help their business grow. With hundreds of different options out there, we are often asked by potential clients “what should I be looking for in a lender?” 

We recommend clients to look for 3 key characteristics before entering a relationship:

(1) Curiosity

(2) Mutual benefits

(3) Multiple funding options.

For us, those three characteristics are where we spend a lot of our time. Two of our core values is to “be curious” and bring a “win-win” mentality to each prospective relationship. This is to ensure we listen to understand your business, financial situation, and goals so each party benefits at the end of the day. The problem some clients find with other lenders is they only offer one solution. We think it is important for lenders to offer a couple different solutions because your funding needs can change as your company grows and evolves.

For example, let us assume a company has won new customer contracts that is going to double their revenue, but they need more working capital to fulfill them. In that situation, a bridge loan can be leveraged to purchase more equipment or material to create more product. In a different example, a business could work with a number of suppliers, who often request to be paid faster. In that instance, look for a Supplier QuickPay Program customized to meet your suppliers needs. On the contrary, if you have a lot of accounts receivable building up and have slow paying customers, invoice funding can be a solution to improve cash flow and provide professional invoice management.

All of these examples can occur in just one business and that is why it is important for a lender to offer multiple solutions. This allows you to rely on their relationship and expertise to determine what makes the most sense at that time. If your goal is to grow your company, your lender should want to grow with you.

Kompass Funding offers a full stack of capital and we care about people and their business goals first to determine the right funding solution. 


Alternative Funding Provides the Engine that Keeps Wireless Running

“The demand for subcontractors and general contractors from the crush of 5G build projects snowballs into the need for cash flow or capital to continue to run these businesses,” Tom Joerger, Kompass Funding Director of Operations said. A critical resource helping companies to make payroll and cover operational expenses during this time is alternative funding, a solution offered by Kompass. This engine keeps companies moving forward at full speed.

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Kompass Kapital Funding helps to strengthen startup companies by increasing their working capital.

The Situation: A startup company specializing in 5G underground boring, a method of installing underground utilities including pipes, conduits or cables, was winning numerous new projects and were in high demand; however, they struggled to come up with the capital to purchase new equipment and hire additional employees, two necessary components in order to continue to scale their business. As a startup that opened its doors in early 2022, the company did not attempt to seek out traditional funding such as a bank loan.

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Get the funding you need, when you need it.

Give us a call to discuss your business funding objectives, so our advisors can show you examples of similar businesses leveraging cash-flow solutions to scale their business quickly. 

You can customize and manage how you want to factor with Kompass Funding, so you get the funding you need, when you need it. Our clients can even avoid waiting 30 to 60 days for your customers to pay invoices, we pay you the amount of the invoice within 24 hours and assume the risk of collection.

Now you can focus on growing your business. 

Let's talk.
Call us at 913-728-0530