Jam’N Products, a toy distributor that sells under various licenses and brands including Nickelodeon, Fisher-Price and Disney, closed a $5 million factoring facility on both account receivables and inventory with Capital Business Credit (CBC).

Jam’N Products purchases excess inventory from major vendors like Mattel and SpinMaster. The company previously had a SBA loan but wanted more flexibility than a fixed loan could provide. The company began looking at factoring solutions to provide fast access to capital to take advantage of closeout opportunities, as well as to obtain general working capital.

“Having worked with CBC’s executives in the past, they were one of the first companies we turned to when we set out looking for alternative finance solutions. They understood the daily needs of a small, growing business and also understood the seasonality of our business,” said Mathew Hyun, CEO of Jam’N Products. “Because CBC handles the collections process, it has increased efficiencies by reducing the number of administrative tasks to ensure customers pay quicker.”

“It is critical for the company to have a partner who understands seasonality and can provide fast access to capital. Now working with CBC, they are able to quickly take advantage of closeout opportunities, as well as access the working capital they need to run daily operations,” said Louis Sulpizio, senior vice president of CBC.