Gateway Trade Funding provided $2.5 million in stretch financing to a home décor and fragrance company, meeting the intercreditor requirements of the company’s asset-based lender. This funding allowed the company to settle supplier payments and maintain the necessary inventory for the peak season.
As the company entered its peak season and needed extra working capital to pay suppliers for the anticipated increase in demand. However, the company struggled to find a financing option that could meet the intercreditor requirements of their asset-based lender.
“We are delighted that Gateway Stretch Financing could support this growing company with their working capital needs, particularly when no other company could due to the lender’s intercreditor requirements,” Mark Polinsky, principal of Gateway Trade Funding, said.
