Daily News: July 10, 2012

RMP Trade Credit Closes Three Transactions


RMP Trade Credit (RMPTC) announced it completed three transactions totaling $1.8 million. The transactions included:

  • A $900,000 purchase order facility for a high-end boots retailer in California. RMPTC will secure the merchandise for large retailers and high-end specialty stores domestically and throughout Europe through letters of credit. A well-known factor in PA will serve as the takeout. RMPTC will also process credit cards as form of takeout and will use a NY factor for the international receivables.

  • A $200,000 purchase order facility for cashmere scarves and sweaters for client out of Brooklyn, NY. Through letters of credit, RMPTC will secure product for high-end specialty stores and chain stores. The deal was brought to RMPTC from a broker in NYC, takeout is well- known factor in Chicago.

  • A $700,000 purchase order facility for label pouches for a retailer in Tennessee. RMPTC has secured these items through letters of credit. A well-known factor out of South Carolina will serve as the takeout and was the referral source.