Daily News: March 29, 2012

Crossroads Financial Provides Credit Line to Cat Litter Maker

Crossroads Financial announced a new addition to its portfolio with an inventory funding for a cat litter manufacturer. Crossroads provided a $500,000 inventory revolving line of credit, while Bibby Financial Services provided a $3 million factoring facility.

The client, originally a client of Bibby, is now able to leverage its inventory to create additional funds that will help the company add to both top line and bottom line growth. Through the inventory financing provided by Crossroads, Bibby is now able to factor additional receivables.

The joint effort of Bibby and Crossroads is creating more than enough availability for the client to grow, while also improving its working capital and day-to-day cash-flow needs.

Crossroads Financial is a stand-alone inventory lender offering inventory revolving lines of credit and purchase order financing.