NEW YORK, NY– Total Food Service (TFS) today announced that it is entering the small business and supplier finance market. The NY region’s leading media outlet for the food service industry is teaming up with Strategic Funding to work with suppliers and wholesalers seeking to control their accounts receivable and provide their customers with additional financing options.
In addition, TFS will work as a direct conduit for restaurants and other small businesses seeking financing. Both programs are designed to help small and midsize business owners to stay in terms with their suppliers and give them capital to improve, market and grow their businesses.
Under the terms of the new deal, suppliers and wholesalers referred by TFS will receive discounted rates on financing through Strategic Funding. This same discount will be given to restaurants and other small businesses who apply directly through the TFS website or call the dedicated customer care number.
“We are focused on innovation and addressing our customers specific needs,” said David Sederholt, COO of Strategic Funding and a 30 year veteran of the restaurant business. “This is a tremendous opportunity to bring together two great companies. At Strategic Funding, we focus on the human needs of owning a small business and those who supply them. We care; and delivering exceptional customer service is at the center of everything we do. Now, in working with Total Food Service, we can creatively help suppliers and wholesalers to address the financing needs of their valued customers and reduce overdue accounts receivable – improving their buying power and providing them with an additional revenue opportunity.”
Through this partnership, borrowers applying through the TFS program will receive discounts of 10 – 20% on the cost of their financing depending on credit quality. Suppliers are passing these savings to their end customer as a benefit of doing business with their company.
“A win, win, win for everyone,” said Sederholt.
Fred Klashman, CEO and Publisher of Total Food Service, stated that, “the new partnership between Total Food Service and Strategic Funding comes at a time when banks are unable or unwilling to provide these businesses with access to capital. Alternative finance is accessible, but can be expensive and many small businesses need more favorable rates – now they can get it through our joint program.”
Designed to meet a pressing need, “the Strategic Funding/TFS partnership helps both suppliers and restaurants. There is no growth without access to capital and we are providing capital in a very targeted way,” Klashman continued. “We are proud to partner with one of the most reputable companies in the space.”
The program offers businesses between $10,000 and $2,000,000 and can be accessed on http://totalfood.com
ABOUT STRATEGIC FUNDING
Founded in 2006 and headquartered in NYC, Strategic Funding has been recognized by customers and the industry as one of the most reliable and respected names in small business financing. With flexible financing options, we provide small businesses with the working capital they need to take advantage of opportunities and grow. To learn more, visit www.sfscapital.com
ABOUT TOTALFOOD SERVICE
For the past 26 years, TFS-TOTAL FOOD SERVICE has delivered a package of news and information to the New York Tri-State restaurant and foodservice professional. The publication and its website in addition to its digital edition have long been known as the B2B voice of Metro New York City’s restaurant and foodservice industries. To learn more, visit www.totalfood.com
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