Daily News: February 12, 2013

RMP Trade Credit Finances $2.25MM in PO Facilities


RMP Trade Credit financed two purchase order financings, totaling $2.25 million.

RMP provided a $1 million a month purchase order facility for an importer of licensed and patented promotional products. RMP is buying the merchandise on letters of credit and a factoring company in New York is financing the A/R on the transaction.

RMP also financed a $125,000 purchase order facility for a startup designer making high-end clothing. The company designs clothes for retailers and recently decided to go into business on its own. Accounts receivable will be financed by a factoring company in Illinois.