Daily News: March 6, 2012

Crossroads Financial Provides Revolver to a Home Goods Manufacturer

Crossroads Financial announced that it has provided a $2 million inventory revolving line of credit to a home goods manufacturer.

The manufacturer, originally a purchase order financing client of Crossroads, transitioned to an inventory client as it grew from a company with sales of less than $1 million, to a company with sales of over $50 million. With such rapid growth, the company needed a line of credit against its inventory that would assist it in acquiring new inventory and in day-to-day operations. Crossroads is providing a $2 million revolver, while LSQ Funding is providing an $11 million factoring facility.

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