Daily News: March 4, 2013

RMP Trade Credit Provides $2.4MM in PO Facilities


RMP Trade Credit (RMPTC) announced it closed two transactions totaling $2.4 million.

RMPTC provided a $1.5 million purchase order facility for an importer of metals. RMPTC secured the materials through letters of credit for refinery customer in Florida. The A/R is being financed by a factoring firm in New York.

A $900,000 purchase order facility went to an importer of machine parts. RMPTC has taken over from an ABL lender and will issue letters of credit to the factories overseas. Customers are throughout the USA, factor out of California will be financing the A/R.