King Trade Capital completed a $3 million purchase order finance facility for a Pennsylvania-based housewares and party supply company.
The company contacted King Trade Capital after being introduced to it by its bank a few years ago. Over the past two years, the company expanded into other industries, such as medical supplies, and needed additional capital to support the growth of the company’s core business: housewares and party supplies.
The company has an existing asset-based lending facility with a bank. King Trade Capital established an intercreditor agreement with the incumbent bank, allowing both parties to provide the total liquidity the company needs to grow. The bank and King Trade Capital have worked together several times over the years.