Accounts receivable factoring helps a Bolingbrook company grow

L3DFX is an award-winning creative studio that opened in 2013 in Bolingbrook. They specialize in designing and building theming, props, structures, immersive environments and interactive experiences.

Their staff is immensely talented and produce creations that are truly amazing a unique. One of their creations is a nearly 10-foot snake that is stationed outside of Six Flags Discovery Kingdom's Sidewinder Safari ride. They also recently got to bring Snoopy to life at the immersive experience called "The Search for Snoopy: A Peanuts Adventure." The Search for Snoopy is a ground-breaking immersive attraction, that transports you into the world of Charles Schulz's beloved comic strip as you explore the Peanuts Neighborhood.

Their team of project designers, engineers, carpenters, fabricators and others can truly create just about anything you can imagine.

Five years ago, L3DFX had hit a crossroads with its business.

To realize their growth potential, they needed to improve their working capital. The company was looking to reorganize its management structure and attract higher-end team members. They turned to their local bank, which turned them down, deeming them non-bankable. The bank would not provide them with financing because their industry was unique, they lacked established business credit, and the way they invoice is slightly non-traditional.

Their banking partner recommended they reach out to us at Franklin Capital because they recognized that Franklin would look at this client with a different view to lending.

After just a few conversations with the Franklin Capital team, they knew this relationship would be different. The approach we take at Franklin is a more detailed dive into their business, much less superficial and one size fits all, which they had previously experienced.

Franklin got into the details of the business, what they did and how long they had been around. Plus, who they are and who their clients are. Combining these details with Franklin's experience, we developed a financing solution that helped L3DFX's business significantly.

When I visited Paul Ciesiun, president/creator at L3DFX, I saw a man who had vision, was an expert in his craft and had a business to believe in. I went back to my team and discussed the situation, and we came together to provide a facility that would work for Ciesiun. We believe it is imperative that we fit in with our clients' needs and not the other way around.

Ciesiun said: "Over the past five years, Franklin has been very in tune with us as a client. When I call Sue, I never feel like I am calling a bank and talking to a banker. It is always a personal conversation about my business, what I need, my goals and how they could help.

"Truly, they are more like a business consultant. I feel like I have a partner in my business that will help me figure out a financial solution for what we want to do. It has been amazing. Franklin is always responsive, which has been an enormous help. Because sometimes you need to know, can I do this and draw on this line? What if I get this project? How can you help me? Franklin has always been there with answers to my financial questions.

"Additionally, they have helped with potential solutions to problems that may be coming my way. Knowing they are in my corner has been an enormous relief."

Franklin Capital has been providing L3DFX with accounts receivable factoring for five years. The financing has provided them with the working capital they have needed to grow the business.

Initially, the financing allowed them to do a few things to aid their growth. It allowed them to take on the infusion of projects that were coming in. They were able to attract top talent by adding benefits they otherwise would not have been able to provide. Additionally, they could purchase much-needed equipment to expand their product offerings.

Over time, with the financing from Franklin, "We grew from 18 employees to 65, thanks to their help. Without Franklin, we would not have seen that type of growth. We would not be the company we are now without their financing bump and them believing in us and taking the risk," Ciesiun said.

Furthermore, L3DFX has grown so significantly that they are moving toward being bankable.

Since that first visit in 2018, Ciesiun has taken L3DFX from strength to strength, he now has more opportunities and we are so pleased that he is now in a position whereby we could help him transition to a traditional form of finance.

• Sue Duckett is chief operating officer at Franklin Capital, a Highland Park-based finance company. Duckett has over 25 years of experience helping small- to medium-sized companies grow by getting them access to the working capital they need. https://www.franklincapitalnetwork.com.