Daily News: October 5, 2012

RMP Trade Credit Completes Three Deals Totaling $2.35 Million


RMP Trade Credit (RMPTC) announced it completed three purchase order facilities totaling $2.35 million. The deals include:

  • a $1.5 million purchase order facility for a toy distributor in Illinois. RMP Trade Credit closed this transaction in seven business days after two previous PO funders were unsuccessful. RMPTC will secure the merchandise for large drug store chain through letters of credit. The client came to RMPTC through a broker and RMPTC is working with a well-known factor in Illinois as the takeout.

  • a $150,000 purchase order facility for electronic components for a client in Illinois. Through letters of credit, RMP Trade Credit will secure product for the UN-backed deal in Africa. The deal came to RMPTC from broker and the takeout is a factor in New York.

  • a $700,000 purchase order facility for label pouches for a client in Tennessee. RMP Trade Credit has secured these items through letters of credit for a major U.S. retailer. RMPTC is working with a well-known factor out of South Carolina, which also referred the deal to RMPTC.