Gateway Trade Funding partnered with another lender to complete a facility consisting of stretch finance, factoring and purchase order financing for a tech company.
A technology business experiencing tremendous growth had just won a new large contract from a large retailer. The private equity firm it was working with recommended it reach out to Gateway Trade Funding because of the retailer’s long payment cycle. The company suggested that Gateway’s financing options could be a good source of short-term financing to help it fulfill the contract and take on others.
Gateway Trade Funding partnered with another lender to successfully provide the company with more than $4.5 million in financing, which included stretch financing, a factoring facility and purchase order financing.
The combined financing from Gateway and its partner was used to fund inventory and provide it with working capital. As a result, it was able to accept the large order and grow its business.
“We are excited to have the opportunity to partner with another lender to help this new and exciting company grow. Gateway’s dedication to partnerships that allow us to structure customized financing programs was the key to successfully helping this company get the financing they needed both now and, in the future,” Mark Polinsky, principal at Gateway Trade Funding, said.