A Success Story: Making a Dream Come True

Opening and running a home for mentally challenged adults is a large undertaking just by itself. Add in financial hurdles and it becomes monumental.

Others would have given up, but not our client. “Sue” knew better.

“It was my dream to open the first home I had 12 years ago,” Sue said. “No bank would even look at me. But using receivables as collateral became my saving grace,” she said.

(Because of the private nature of our industry and work, we are not using our client’s real name to protect her)

Sue is a former social worker who wanted to open a group home for mentally challenged adults. She is more than qualified to do the work. However, she had no cash, little credit and no assets to speak of. Banks wanted no part of her.

“We chose a different strategy for Sue,” Anne Capps said. Ms Capps is Executive Vice President of American Receivable (www.americanreceivable.com). “While she had few accounts receivable we could leverage, she did have a contract from the State of Texas. That was our best shot at getting her the cash she needed to get set up,” Ms. Capps continued.

Working with the State, American Receivable turned the contract into a bill that required payment. Receiving payment on the note put cash into Sue’s coffers and allowed American Receivable to help her manage her launch.

It worked and 12 years and 8 houses later, Sue is running thriving—and necessary—business.

“I wouldn’t have succeeded without the trust and skill of Anne and her team,” Sue said.

For more information, contact American Receivable at 972-404-4726.

The American Receivable Team