Daily News: December 5, 2012

Crossroads Financial Closes $1 Million PO Financing Facility


Crossroads Financial announce that it has provided a $1 million purchase order financing facility for a nutritional products manufacturer and distributor. The PO financing facility is being utilized to acquire raw materials necessary for producing products at the company’s Canadian facility.

Crossroads entered into an intercreditor relationship with Crestmark Bank, which is providing an accounts receivable facility that offers additional working capital to the client. The combined resources that these facilities provide allow the client to capitalize on sales without being limited by a lack of capital.

Crossroads Financial is a stand-alone inventory lender offering revolving lines of credit against existing inventory, as well as purchase order financing.

Crestmark Bank is a national bank that provides innovative financial solutions for small-to-medium sized businesses.