Forest Capital Provides $750,000 to NJ Garment Services Company
Forest Capital provided $750,000 to a New Jersey-based garment services company. The company provides warehousing and distribution, refurbishing and repair, pick and packing, ticketing and labeling and quality assurance inspections.
The funds will be used to expand to a larger facility to accommodate its growing customer base. The company is an industry provider in customer service and quality assurance in the garment services industry but lacked the working capital to purchase racking for its new warehouse.
Forest Capital provided the company with an accounts receivable line of credit for working capital to cover the costs of moving to a new and larger warehouse. Forest Capital also provided the company with a $130,000 term loan to facilitate the purchase of racking in the new facility.
Forest Capital provides accounts receivable financing to small- and middle-market companies with financing needs between $50,000 and $5 million.