Situation: Founded in 2016, Alumni Staffing LLC (“Alumni”) is based in New Jersey and focused on providing temporary physician services (locum tenens) to healthcare facilities nationwide. Alumni has consistently posted year-over-year growth since inception and is currently on pace to achieve record-high revenues and profits for 2022. Alumni desired a more robust credit facility to sustain this growth trajectory and maximize financial flexibility.
Solution: Alumni’s CEO and founder John Pannucci connected with the team at Access Capital in search of a new financial partner with extensive experience in financing the staffing industry. The goal was to support Alumni’s rapid organic growth and provide financial support to the company’s plans to explore acquisition opportunities.
Pannucci had this to say of his new relationship with Access Capital and Alumni’s exciting future: “With this new credit facility, Alumni has obtained greater borrowing capacity at lower interest rates with improved flexibility under covenants. This larger facility reflects the strength of the company, diversifies funding sources, and bolsters our strong liquidity position for the years to come.”