Chesapeake Financial Shares' Kevin Wood joined Proactive to speak about the group's newly rebranded division named Flexent, which offers factoring and asset-based lending to small to medium businesses, to help groups finance their growth.
Wood says Flexent, previously known as CashFlow, can provide next day cash flow for groups at a reasonable rate of cost. Wood says while PPP loans supplanted Flexent's service, in the last few months the group has seen a 'significant uptick' in business, anticipating 4Q 2021 and 2022 to be 'pretty strong.'