Small Gulf Coast Construction Business Receives $50,000 in Advance BP Claim Funding
BPClaimsAdvance.com announces $50,000.00 in funding for a Tampa, Florida based construction materials supplier
Tampa (I-Newswire) September 15, 2013 - BPClaimsAdvance.com announces a $50,000.00 funding for a Tampa, Florida based construction materials supplier.
The formerly multi-million dollar revenue supplier to the residential construction industry was hit hard by the combined effect of the recession, the housing downturn and the gulf oil spill. It contracted substantially and struggled to regain profitability.
As the recovery began in summer 2013, the firm's orders increased, but a successful turnaround required a cash injection to fill new orders. The company had previously filed a BP Deepwater Horizon settlement claim, but the company hoped to accelerate the process. It applied for and received an advance against their BP Deepwater Horizon Oil Spill claim.
"We are pleased to be able to help this company execute on its turnaround by providing much needed permanent working capital" said Lunelle Siegel, Funding Manager at BPClaimsAdvance.com.
The company's interim CFO introduced the company to BPClaimsAdvance.com in hopes external working capital could be obtained as credit was not available elsewhere. The funding allowed the company to purchase product to fill its flurry of purchase orders as the company's sales rebounded.
BPClaimsAdvance.com was established in early 2013 to provide a funding option to businesses that have filed a claim under the Deepwater Horizon Settlement agreement.
Businesses who have filed a claim may be eligible for an advance of up to 40% of the amount of the claim, with funding in as little as a week. The company serves businesses who have filed "opt in" claims in all zones throughout the Gulf Coast region.
Law firms, CPAs and others assisting injured businesses file their claims may also be eligible for funding.
More information: [url:http://bpclaimsadvance.com] or 888-831-9477.
5470 E. Busch Blvd. #422
Phone : 888-831-9477
Published On:September 15, 2013
Print Release:Print Release
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