Daily News: February 13, 2013

Gateway Provided $10MM in PO Facilities


Gateway Trade Funding announced that it recently completed four purchase order transactions since the beginning of 2013 totaling $10 million. The deals include:

  • a $2 million fund facility to a distributor of aftermarket auto parts selling to major OEMS;

  • a $2 million fund facility to a vertically integrated engineering firm selling LED light housing to large OEMs;

  • a $4 million fund facility to a California-based sporting goods firm selling to major retailers; and

  • a $2 million fund facility to a California-based toy importer selling to major retailers.

    Gateway Trade Funding specializes in providing letters of credit to foreign or domestic manufacturers for the cost of pre-sold inventory.