SafeRacks Accesses Working Capital Quickly With C2FO

When Matt Davis retired from the Air Force, he and his wife founded their first business, SafeRacks, with a simple mission: help people take back control of their garage.

With an unwavering emphasis on safety and quality, SafeRacks has become a leading manufacturer of overhead storage racks.

Today, its world-class product selection is sold both online and in retail stores around the country and has been the No. 1 selling hardware product in Costco for two years in a row.

“Whether we need to pay our taxes or pay our vendors—anything that requires us to get cash quickly—C2FO is that reserve parachute we can pull any time and know that the money’s going to be there,” Matt said.

The challenge

For Matt, the seasonal nature of his business means his cash needs and income don’t always line up.

“Our business is very seasonal and our manufacturers’ businesses are not. So they require us to get cash to them as quickly as possible,” he said.

The seasonal nature of the business also means other periodic financial obligations like taxes can pose a cash flow challenge.

The solution

With on-demand access to cash, C2FO allows Matt to meet seasonal demand and keep his production schedule on track.

“C2FO just makes it much easier to level out our cash needs and meet our cash obligations overseas … When we have a large order with one of our big box clients, we’re able to draw down income very quickly using the C2FO platform. I can do it from my mobile phone. It makes it easy.”

C2FO also allows Matt to plan ahead for his quarterly tax obligations. Knowing he can access cash at any time gives Matt peace of mind.

“I’m all in every day and C2FO has my back. It’s one thing to have a culture of product safety. Now we have a culture of financial safety, too.”