Daily News: May 9, 2014

Finacity Announces $15MM Invoice Purchase Facility

Finacity announced it successfully arranged and structured a $15 million invoice purchase facility for a leading U.S. nationwide food distributor.

The facility will be used by the client strategically to finance invoices related to important customer relationships on a non-recourse basis.

“We are extremely pleased that we were able to structure an asset-based funding solution that satisfied the multiple objectives of our client. This is a further example of Finacity’s continued expansion of our Structured Working Capital Solutions product offerings,” said Adrian Katz, Finacity CEO.