Franklin Capital completed two new accounts receivable financing facilities, including:
- A $1 million accounts receivable financing facility to a supplier of personal protective equipment. The business previously sold to numerous food stores and, in response to the COVID-19 pandemic, set up a new company to provide hand sanitizer to help fill the national shortage. The facility gives the company the ability to provide credit to its customer base and continue to bring in new products from suppliers.
- A $3 million accounts receivable financing facility to a UK-based IT equipment supplier. The company needed funding to start a U.S. subsidiary, supplying IT equipment to Amazon for its distribution centers. It was difficult for the company to find a lender for the U.S. subsidiary because it was owned by a UK-based company. Franklin overcame those issues and provided the company with the funding it needed to start the U.S. subsidiary.
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