King Trade Capital completed a $5 million purchase order finance facility for a Georgia-based telecommunication device supplier. The company reached out directly to King Trade Capital after being referred by a previous King Trade client.
The company was seeking a purchase order finance solution that would help support orders with a large U.S.-based information technology products customer. King Trade Capital underwrote the supplier relationship and customer contracts to structure a trade finance solution that would help the client increase the overseas production of its equipment. King Trade Capital worked closely with the customer and the U.S. SBA to gain subordinations under several economic injury disaster loans the client received during earlier in the COVID-19 pandemic.
The trade solution consisted of the issuance of documentary letters of credit to the company’s overseas supplier to accelerate the production of the company’s devices to meet the increasing needs of the end customer.
