Daily News: May 21, 2013

King Trade Provides $1.1MM PO Facility for Apparel Designer

King Trade Capital (KTC) said it funded a $1.1 million purchase order finance facility for a New York-based apparel designer and manufacturer.

The finance facility was structured in two parts, one for finished apparel imports, and the other for fabric purchases requiring cut, make (sew) and trim (CMT) production in the U.S.

KTC was able to structure a solution despite a large customer concentration, in excess of 80% of sales. KTC aligned with an experienced factor in the apparel industry to structure a solution to help the client fulfill its growing book of orders with the customer. KTC’s facility funded the purchase of finished goods and fabric from overseas suppliers as well as the in process production costs of garments manufactured with those fabrics in the U.S.

The client now has a comprehensive finance solution that helps it achieve a common goal, growing sales. KTC’s unparalleled experience in providing an import finance solution as well as a domestic production finance solution provided the Client with the incremental capital needed to continue to grow their business without traditional finance constraints.