LSQ partners with the Chicago Minority Supplier Development Council to improve working capital for MBEs

ORLANDO, Florida., December 15, 2021 /PRNewswire/ — LSQ, a leading provider of technology-driven working capital solutions, has partnered with the Chicago Minority Supplier Development Council, Inc. (ChicagoMSDC), a leading organization to increase opportunities business between major buying organizations and minority-owned businesses, to provide working capital assistance to minority-owned businesses (MBEs) in construction, manufacturing, and other industries across Chicagoland.

“Various vendors tend to be looking to grow their businesses, but often don’t have access to affordable working capital to scale,” said Vikas Shah, Chief Revenue Officer of LSQ. “Our new partnership with ChicagoMSDC allows us to help them meet their cash flow needs through a supply chain finance program with their large buyers.”

Supply Chain Finance (SCF) programs are sponsored by buyers and give suppliers the opportunity to receive prepayment on their invoices. Buyers have the option of deploying their own balance sheet and using LSQ’s prepayment platform or can also receive increased working capital as prepayments are funded by a third party.

Through this partnership, LSQ is offering minority-owned small and medium-sized businesses credit rates normally reserved for Tier 1 providers. Small and medium-sized businesses have traditionally faced higher rates or been excluded from SCF programs.

“Access to capital continues to be a barrier to the growth of our MBEs,” said Isaiah Spears, director of development and strategic partnerships with ChicagoMSDC. “Providing access to capital from the business buyers our MBEs work with is an innovative approach to strengthening business relationships and creating more diverse supply chains and the Board is delighted to partner with LSQ in this venture. .”

For MBEs whose buyers do not offer SCF programs, LSQ offers a variety of accounts receivable and inventory financing options.

For more information about the LSQ and Chicago Minority Supplier Development Council partnership and how, contact Brittany Hooper at [email protected] Where Isaiah Spears at [email protected].

About LSQ | lsq.com
LSQ has been deploying working capital solutions for over 25 years, offering over $25 billion to thousands of small, medium and large businesses. The breadth and depth of LSQ’s experience across a wide range of industries enables us to deliver value beyond capital. From manufacturing, energy, utilities, and high tech to healthcare, retail, and professional services companies, LSQ provides a unified platform for working capital management that can deliver optimized liquidity and cash flow management for any business. To learn more about our working capital solutions, visit www.lsq.com.

About the Chicago Minority Supplier Development Council, Inc. | chicagomsdc.org
The Chicago Minority Supplier Development Council, Inc. is the premier supplier development organization focused on building strategic alliances between our buying members and certified minority business enterprises. Member companies create opportunities for certified minority business enterprises to compete effectively in the procurement process for supply chain diversity. To learn more about programs offered by the Chicago Minority Supplier Development Council, visit chicagomsdc.org.

SOURCE LSQ financing

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