Coral Provides Direct Mail Factoring Facility
Coral Capital Solutions provided a $2.4 million factoring facility for the acquisition of a direct mail and fulfillment business in the Northeast.
The buyers identified the potential for significant growth in this women-owned business and an opportunity to merge data services like ecommerceweb development, and web-to-print POD, and digital asset fulfillment with its current business in order to create a significant player in the datamailer market. The buyers required a quick turnaround of the financing transaction and accommodation regarding high customer concentration, high volume of postage transactions, and high volatility in the receivables financing.
“Coral Capital was able to expedite its underwriting and documentation process to be ready with its financing when the buyers closed their acquisition, said Ronnie Sussman, BDO at Coral Capital, “We are happy to support our clients, keep business operations running, local community employees in place, and develop a strong relationship with key Fortune 500 customers.”