Crossroads Provides Inventory Revolver to Sports Apparel Manufacturer
Crossroads Financial announced it provided a sports apparel manufacturer and wholesaler with a $1 million inventory revolving financing facility.
The manufacturer, experiencing increasing sales and opening new channels, entered into a relationship with a factor that created liquidity for the company through an A/R factoring facility. The factor, not wanting to advance on inventory, contacted Crossroads to partner with them and provide a stand-alone inventory revolver to assist with inventory purchases and provide financing against inventory-in-transit.
“Crossroads is able to provide value for any receivable lender or factor not willing to advance on Inventory” described Lee Haskin, CEO of Crossroads. “We create the ‘Cure For the Common Over-Advance’ for our factoring and receivable lending partners.”