FirstCorp Empowers EduCorp to Open New Training Center, Grow Revenues

 

For more info, contact:

Brian Cascarano
Vice President of Marketing
(847) 663-6700

bcascarano@
ifccredit.com
Since 1993, EduCorp Training and Consulting, Inc., has been growing its business on the basis of providing world-class training services to higher learning institutions and Fortune 500 companies. Now, with the help of FirstCorp, the company is about to embark on one of its largest expansions to date.
EduCorp is currently in the process of opening a new training center, a venture with expenses totaling near $1,000,000.
The new facility required a telephone system, a network of computer workstations, and office furniture to build each new training station.  EduCorp could have financed these products from each vendor or reseller, but creating, signing, and then paying on each separate account would have created unnecessary overhead.
In addition, undertaking an expansion of that size can put a strain on any company’s cash flow.  Realizing these constraints, the company turned to FirstCorp.
FirstCorp was able to provide a lease which would preserve the company’s lines of credit and keep their cash flow available to use on other parts of the facility.  Secondly, the lease encompassed all the necessary equipment from three separate vendors, allowing for one contract and an easy-to-manage payment.  And with the additional revenue the new facility will generate, making the payment and retaining profits on top should be a shoe-in.
“FirstCorp provided EduCorp funding that supported our investment of just under $1 million in our newest training facility in Dallas. The facility will house our headquarters and 7 state-of-the-art technology classrooms that will allow us to increase our training revenues by 15% for each of the next 3 years,” said Steven Durham, V.P of Finance for EduCorp.
EduCorp’s successful experience with FirstCorp echoes the experience of thousands of small to medium-sized business across the country who, in need of equipment financing,  have turned to FirstCorp.
“We are determined to provide our clients with the financing they need to ensure the success and growth of their businesses,” said John Estok, President of FirstCorp.
About EduCorp:
EduCorp Training and Consulting, Inc., serving the training needs of corporations and higher learning institutions since 1993, specializes in teaching private, on-site corporate classes at very competitive prices. EduCorp, a woman-owned business enterprise, focuses on personal service and quality in delivering global training and consulting. Satisfied customers include major training companies, universities, titans of the computer industry and many Fortune 500 members.
About FirstCorp:
FirstCorp, a division of IFC Credit Corporation with headquarters in Morton Grove, Illinois, provides innovative equipment finance solutions to companies across a wide variety of markets and industries. Since its formation in 1980, FirstCorp has provided thousands of small and medium size businesses with needed equipment and capital.