Unifor Reaches Tentative GM Deal for 4,600 Ontario Workers 
Amazon to Expand Drone Delivery to 500 U.S. Locations 
TikTok, DOJ Reach $400 Million Children’s Privacy Settlement 
Samsung Shares Tumble 8% as $79 Billion Return Plan Disappoints 
SpaceX Hires Natural Gas Trader to Meet Growing Energy Needs 
Alibaba Raises $10.2 Billion to Expand AI Infrastructure 
China EV Stocks Slide as Door Handle Recall Hits 4.3 Million Vehicles 
KPMG Australia Cuts 5% of Workforce Amid Scandal 
Tokio Marine Eyes Multibillion-Dollar Suncorp Takeover 
SoftBank Plans Record $6.3 Billion Bond Sale to Fund OpenAI Investments 
J.P. Morgan Upgrades Diploma, Lifts Price Target to 8,250p 
Ampol Profit Surges as Refining Margins Hit Record Highs 
Xiaomi Unveils Xring O3 Chip for Flagship Foldable Phone 
SEC Probes Banks Over Situational Awareness Hedge Fund Collapse 
Trump Buys SpaceX Shares After Record IPO 
Nvidia Eyes Perplexity Investment at $30 Billion Valuation 
Woodside Drops $5 Billion Clean Energy Plan as Profit Rises 7% 
Add as a preferred source on Google
EAGAN, Minn., May 03, 2018 -- ARA, Inc. dba Lone Oak Payroll and its trusted partner TempWorks Software® are proud to announce closure of a $17,000,000 secured credit facility with Wells Fargo Capital Finance. The new facility will enable Lone Oak Payroll to expand its staffing industry payroll funding activity as well as support its current customers’ organic growth.
|
|||
“Closing this facility has exposed us to a greater degree of financial scrutiny crucial for our marketplace considering the type of services we provide. It’s important to our factoring clients that we prepare for their growth and imperative to our processing clients that we demonstrate our capacity to handle larger and more complex payrolls with the same degree of accuracy they’ve come to expect from us,” says David Dourgarian, CEO at Lone Oak Payroll.
The migration to Wells Fargo allows Lone Oak Payroll to post its clients’ payments faster and make fewer invoice verification phone calls to their customers. In addition, it gives Lone Oak Payroll the capacity to finance staffing firms on platforms other than TempWorks Software, representing a large and previously inaccessible market to the Minnesota-based invoice finance firm.
About Lone Oak Payroll
Based in Eagan, Minnesota, ARA, Inc. dba Lone Oak Payroll offers payroll funding and comprehensive solutions to help large, medium, and small staffing agencies and businesses finance growth, reduce costs, improve efficiency, and maximize profitability. Lone Oak Payroll clients also benefit from complimentary payroll processing services, back office support, and online applicant tracking system through its trusted partner, TempWorks Software.
Media Contact Connie Webb [email protected] 651-287-8347
