Daily News: March 7, 2012

Brookridge Funding Completes $3.65 Million for Seven Clients

Brookridge Funding announced the recent completion of $3.65 million of funding facilities for seven new clients.

Included are purchase order funding lines of $1.6 million, $500,000 and $300,000 for three government resellers, introduced to Brookridge by their factors, which will be retiring the purchase order fundings out of their initial advances on the government receivables created after the merchandise is delivered.

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.