Daily News: November 8, 2013

RMP Trade Credit Closes Three PO Facilities for Importers


RMP Trade Credit announced the closing of three purchase order facilities for importers totaling $4.45 million. The deals comprised:

  • a $3 million purchase order facility for an importer of licensed and patented promotional products in California. The customers are well known large retail chains. RMP Trade Credit is buying the merchandise on letters of credit. A factor in New York is financing the A/R in the deal.
  • a $1 million purchase order facility for an importer of men’s and women’s fashion boots in California. The customers are well known large retail chains. RMP Trade Credit is buying the merchandise through the use of letters of credit. A factor in Chicago and New York is financing the A/R on the deal.
  • and a $450,000 purchase order facility for an importer of workout sports equipment in Massachusetts. The customers are well known large big box retailers. RMP Trade Credit is buying the merchandise on letters of credit. A factor in Texas is financing the A/R in the deal.