Daily News: July 27, 2016

King Trade Provides $4.5MM Trade Facility in Concert with ABL

King Trade Capital financed a $4.5 million trade finance facility for a Utah-based ski and outerwear company. The financing allows the company to buy seasonal inventory from more than 10 different suppliers around the world and helps the company import inventory prior to ski season in North America and continue manufacturing additional inventory to be sold to international markets later in the year.

King Trade Capital provided a trade finance solution for the company while a nationwide asset-based lender worked towards closing their permanent ABL facility. King Trade structured and negotiated a solution that provided continuity to the seasonal business during their peak manufacturing and shipping season and allowed the ABL time to close.

King Trade funded in-transit inventory and supported the overseas production of additional inventory in support of seasonal sales, bridging the company’s capital needs until goods are shipped to customers and liquidity is available under the ABL facility. King’s financing will support more than $10 million of seasonal orders.

Edward King, founder of King Trade Capital, commented, “We appreciate and are humbled by the trust the asset-based lending community shows in our solutions based financing. For the past 23 years we have offered unmatched expertise and integrity in PO and trade finance allowing ABL’s in need of a complimentary PO and/or inventory finance solution an option for their clients.”