Daily News: March 26, 2013

Brookridge Closes $5.05MM in PO Facilities

Brookridge Funding announced the completion of $5.05 million of purchase order facilities for six new clients:

The clients were introduced to Brookridge by their factors or asset-based lenders and include:

  • $3 million for a CA-based distributor of lighting products;
  • $500,000 for NV-based importer of costume jewelry;
  • $500,000 for NY-based clothing wholesaler;
  • $400,000 for a CA-based government reseller;
  • $400,000 for a KS-based importer of hardware supplies; and
  • $250,000 for a NJ-based government reseller.

    Brookridge provides letters of credit for its clients purchasing pre-sold inventory from foreign vendors and wires for its clients with domestic suppliers.