My Job Matcher, Inc.
CLIENT INDUSTRY
Staffing
WEBSITE
TERM LOAN SOLUTION
Business Acquisitions & Working Capital
FACTOR SOLUTION
Payroll
“Breakout's ability to fully grasp our needs and provide financing tailored to our unique circumstances exceeded our expectations. Their expertise spans multiple products and we were impressed with their keen attention to detail and commitment to finding the perfect solution for our growing fintech staffing agency.”
Paul Sloyan | Co-Founder & CEO
COMPANY
My Job Matcher, Inc. (MJM) is a technology enabled staffing company based in Texas. While the company provides in-house services, the company has also been active in acquiring additional staffing firms in recent years. MJM primarily works in and acquires other staffing firms that specialize in select industry niches (i.e., healthcare, IT, etc.).
CHALLENGE
MJM initially needed funding to support acquiring additional businesses, as well as working capital to maintain smooth operations during each transaction. In addition, the business could not wait 30 to 60 days to receive payments from its clients, so they needed to turn their A/R into cash to begin making payroll.
SOLUTION
MJM received various term loans from Breakout as needed to buy additional staffing businesses. As more staffing agencies were purchased, the company’s A/R base expanded, resulting in increased factoring facilities to cover payroll. The max factoring line for the client has been increased on multiple occasions.
RESULT
MJM continues to increase their receivables base, which has increased nearly 5x in the last two years. Breakout is currently underwriting another business acquisition and factoring facility which require an additional term loan and factoring facility increase. The company continues to strengthen its balance sheet via recent acquisitions and maintains sound operations.
