Crossroads Financial provided a $3 million inventory revolving line of credit to a wholesaler of new and refurbished plastic totes, steel drums, and poly plastic drums selling to customers in the oil and gas industry.
The client’s current factor had provided a substantial inventory revolver but became more and more uncomfortable with their inventory position. The factor was interested in being taken out of their inventory exposure, while the client needed a more aggressive inventory loan for their continued business expansion.
Crossroads paid off the factor’s inventory exposure and provided additional working capital for the client, allowing the factor to focus on their core business.
