Ocean Bank’s factoring division financed a $5 million factoring facility for a private equity-owned distributor of interactive digital marketing displays.
“Supply chain problems and the pandemic hindered our client’s ability to fulfill orders quickly,” Daniel Krasna, vice president of business development at Ocean Bank, said. “With our financing, they will have the right factoring facility to grow their business. When our client approached Ocean Bank, we were able to create a structure, together with a credit fund and their sponsor, to provide a financing solution for their growth. We were able to get the right working capital facility to assist with fulfilling orders and moving them towards profitability.”
