Daily News: May 7, 2012

King Trade Capital Closes Supply Chain Finance Agreement

King Trade Capital (KTC) announced the closing of a $750,000 annual supply chain finance solution for a Connecticut-based importer of bedding and textiles. The company is a startup established in 2012 by an experienced team.

KTC was contacted by the existing factor in order to provide the importer the international expertise and financial stability needed to help ramp up the business quickly. KTC was able to put in place an import letter of credit facility as well as funding for duty and freight allowing the company to buy the inventory needed to fulfill its growing orders with major home furnishing retailers.