Daily News: September 19, 2012

Brookridge Funding Completes Four New Funding Facilities

Brookridge Funding announced the recent completion of $6.2 million of funding facilities for four new clients. Brookridge said the clients were introduced to the firm by their factors and asset-based lenders. The deals included:

  • $5 million to a MN-based distributor of electronic games

  • 750,000 to a NY-based importer of beauty products

  • 250,000 to a MN-based importer of electronic parts

  • 200,000 to a TX-based importer of headwear

    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 PO transactions.