Daily News: July 21, 2014

Crossroads Provides $800K Inventory Revolver

Crossroads Financial announced it provided an $800,000 inventory credit line to a sporting goods manufacturer and distributor. Crossroads is partnering with Aegis Business Credit, which is providing a $1.5 million factoring facility for the client.

Faced with seasonal challenges, high growth and inventory requirements exceeding traditional advances by most ABLs, the company turned to Crossroads to provide an inventory revolving credit line with no restriction to the receivables outstanding.

“This client speaks to one of the major benefits of Crossroads” said Darren Palestine, director of Sales for Crossroads Financial. “Most lenders were not able to assist due to the Inventory requirement. Crossroads was able to step in and provide a facility that did not have a ratio requirement to the AR outstanding and the Crossroads- Aegis partnership on the transaction was a perfect fit for the client’s needs.”