This executive recruitment and placement agency needed an injection of capital to help reach its full growth potential.
The Leadership Agency, based in Toronto, is a leading executive recruitment and placement agency specializing in leadership and sales recruitment. The company, which has over a decade of experience sourcing sales and leadership talent, has interviewed more than 10,000 leaders and placed 3,000 people in the North American workforce, which represents approximately $175,000,000 in annual salaries in the market.
The owner of the Leadership Agency, Jamie Hoobanoff, was looking to secure a downtown office and create a strong presence in a highly competitive industry. To make its mark and further drive growth, the company needed to hire employees to build a candidate strategy team in order to facilitate business development. “As an entrepreneur, you have to find what you love to do and know how you are going to do it better than anyone else. Don't be afraid to take risks, and those risks might include raising money,” emphasizes Hoobanoff.
To help the company achieve its goals, BDC worked closely with the client to assess its needs and determine the best financing solution. The bank provided working capital, which allowed the company to hire employees for its candidate strategy team and execute on its client acquisition strategy. The loan offered flexible repayment terms in order to help the business preserve vital cash flow and continue to grow.
With the help of BDC, The Leadership Agency was able to build its team, focus its efforts on a niche aspect of recruiting, explore new pricing opportunities and target an untapped market in executive recruitment. The company has also increased its forecasted revenues by 150%. “BDC not only helped me with financing, they provided me with tools and resources that helped structure the business and gave me the freedom I needed to build my company,” concludes Hoobanoff.