Daily News: January 24, 2013

CBC Provides $3.5MM Factoring Facility to Veratex

Capital Business Credit (CBC)said it is providing a $3.5 million revolving factoring facility to Veratex, a CA-based manufacturer of bedroom sets and decorative bath fashions.

“Capital Business Credit is providing us with not only capital, but also with deep expertise in the home furnishings sector,” said Avi Cohen, president, Veratex, “CBC’s ability to create flexible financing solutions combined with the fact that they have a strong presence in both California and China, where Veratex manufacturers its products, made them the perfect financing partner.”

“Capital Business Credit was able to design a facility to provide Veratex with the financing support to grow their business,” said Charles Sharf, executive vice president and New York factoring portfolio manager, CBC.