King Trade Provides $1.3MM PO Financing to UK Importer
King Trade Capital announced the recent cross border funding of a $1.3 million purchase order finance commitment for a UK-based importer of security equipment.
KTC was introduced by the investment banking arm of a New York-based specialty finance company. The client was seeking to finance the manufacture and delivery of security equipment that was being sold to the British government.
The product was being manufactured by a company in the Middle East that required a payment guarantee before releasing the products. KTC quickly established a finance solution that provides payment upon presentation of documents to purchase the required inventory from the overseas supplier as well as pay the logistics costs and VAT tax to import the product into the UK.
KTC said it was able to quickly structure, document and fund a cross border transaction with a UK-based client and demonstrate its strong international trade finance capability. KTC’s finance program allowed the company to finance the entire supply chain and fulfill the immediate orders. As a result, this enabled the company to meet its growing sales opportunities without having to raise equity in the public market and dilute the ownership percentage of the existing shareholders.