RMP Trade Credit closed three purchase order facilities totaling $3.2 million. The deals include:
A $2.1 million purchase order facility was provided for a manufacturer of pool products in Arkansas. Product is being sold to a big box store with the payout being a line of credit from the big box store.
A $100,000 purchase order facility went to a footwear designer in Virginia. The facility is for a start-up company and the orders are from small specialty stores throughout the U.S. A factoring company in Texas will serve as the takeout.
A $1 million purchase order facility per month was provided for a manufacturer of apparel that is based in the Dominican Republic. The manufacturer produces athletic apparel for men, women and children. A factoring company in New York will serve as the takeout.