Success Stories & Testimonials (Factoring)
Summitt Energy Management Inc.
Summitt Energy took advantage of financing provided by Morrison Financial during the early stage, rapid growth phase of our business. The idea was to avoid costly equity dilution at a time when conventional bank financing was not yet available to us. The availability of the financing, which grew along with our business, proved to be very beneficial to Summitt Energy as we experienced our anticipated growth and expanded into new markets
We found that the personnel at Morrison Financial were willing to invest the time to understand the nature of our business. This resulted in a financing structure that was suited to our requirements. They also proved, from the top down, to be readily accessible and responsive to our needs as they changed from time to time. There were no long waits for bureaucratic decision-making, which allowed Summitt Energy to respond to opportunities. This early stage financing allowed Summitt Energy to achieve its initial objectives and having done so, we were able to secure a long term financing facility.
Gerry Haggarty
President
Summitt Energy Management Inc.
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Thinkpath Inc.
Thinkpath is a global provider of engineering services including design, design build, drafting, technical publishing and documentation, and on-site engineering support. Their customers include Department of Defense (DoD) contractors, aerospace, automotive, Canadian and American governmental entities, and large multinational companies, including Lockheed Martin, General Dynamics, General Electric, General Motors, Ford Motors, ABB and Magna.
Thinkpath was going through a restructuring phase and approached Morrison Financial to assist them with debt negotiation and to streamline their operations. Morrison Financial helped to provide them not only with a credit facility but also to negotiate over $1 million in debt forgiveness. The team at Morrison Financial also analyzed Thinkpath’s business model and with a clearer outside perspective, was able to provide insight on how to reorganize more efficiently for profitability.
“We really appreciated their “big brother” role. They gave us free rein to use our discretion in making the big decisions but they would let us know if they felt we were going off track. It was definitely a very comfortable and reliable relationship, and one that helped us to get to where we needed to go financially.”
Kelly Hankinson
Chief Financial Officer
Thinkpath Inc.
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