Daily News: November 27, 2012

Brookridge Closes Seven Transactions Totaling $6.2 Million

Brookridge Funding announced the completion of $6.2 million of funding facilities for seven new clients in October.

The clients were introduced to Brookridge by their factors and asset-based lenders. The deals included:

  • $2.5 million for an IL-based distributor of petroleum products;

  • $1.5 million for a CA-based importer of optical products;

  • $1 million for a TX-based importer of novelty items;

  • $300,000 for a MD-based importer of packaging products;
  • $300,000 for a NY-based importer of novelty items;

  • $300,000 for a PA-based designer and importer of resort wear;

  • $300,000 for a GA-based importer of e-cigarettes;

    Brookridge provides letters of credit for its clients purchasing pre-sold inventory from foreign vendors and wires for its clients with domestic suppliers, providing safeguards for the successful completion of their P.O. transactions. Brookridge provides purchase order funding starting at $100,000, and works with existing senior lenders and/or factors in place.