The nation’s 200 largest out of home companies have formed a lending fund to provide working capital advances to ad agencies.  Any US-headquartered ad agency will be eligible for a working capital advance of up to $250,000 from the Lending Enterprise Empowering Corporate Heuristics Fund (the “LEECH Fund”).  “It’s clear that ad agencies are chronically under-funded” said LEECH Fund founder Bob Dollar, “because they take 120-180 days to settle ad contracts.  The out of home companies might as well earn a little interest if they must to wait that long for the money.”  Dollar said that the fund’s initial capital requirement was oversubscribed by enthusiastic out of home companies.

Ad agencies which want an advance must fill out a simple 85 column non-standardized excel spreadsheet.  The fund will notify agencies when advances are available and give them 24 hours to apply.

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