Iron Horse Credit (IHC), an inventory lender, closed a $3.5 million inventory facility to a cell phone and electronics distributor the last week of December. The credit facility will provide the company with additional working capital to cover supplier payments and meet its growth projections.
The company, which has distribution agreements with known brands, primarily sells into the Latin American and U.S. markets. As the company continues to grow its distribution partnerships, it needed a tailored facility to cover its vendor payments and delivery timelines.
The company’s current A/R lender introduced IHC to the opportunity. Having worked previously with the A/R lender, IHC was able to close the transaction in approximately three weeks from engagement.
“It was great to fund this transaction right before the end of 2022,” Cesar Silva, VP, business development for Iron Horse Credit, said. “It took a lot of joint effort between IHC, A/R lender and the company to be able to close this transaction during the end-of-the-year holidays.”