Platinum Funding Group has completed factoring facility for a web design company.

New York, NY – March 2007 -- Platinum Funding Group announces funding of $1,000,000 of invoices in the first round of financing to RichFX, Inc. RichFX, Inc. is a web design, media solutions and image catalogue provider to domestic and foreign retailers.

Through the rich media platform developed by RichFX, the company aids their clients in developing product image, personalization and configuration to better appeal to their catalogue, in-store and web customers. The New York City-based company was in need of quick turnaround accounts receivable funding and management of collections.

“In recent months we have seen an increased opportunity to work with IT, web and software companies, such as RichFX,” noted President of Platinum Funding Solutions, LLC. “These types of companies often face a shortfall of cash due to decreased availability of financing for this sector. Factoring services offered by Platinum Funding Group provide a great alternative source of financing for companies that are heavy on intellectual capital but light on hard assets.”

About Platinum Funding Group
Platinum Funding Group is a leading factoring company that provides clients with accounts receivable funding, letters of credit, bridge funding and accounts receivable management. Established in 1992, Platinum Funding Group has consistently assisted companies with annual sales between $1 million and $150 million. Platinum Funding Group possesses the financial resources to serve the needs of companies across more than 30 industries. Platinum Funding Group issues same-day advances on accounts receivable to early-stage, fast growing firms and companies in Chapter 11. Platinum Funding Group is headquartered in New York City and has regional offices throughout the US.

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