Daily News: January 23, 2013

RMP Trade Credit Closes Three PO Facilities

RMP Trade Credit recently closed three purchase order facilities totaling more than $3 million.

RMP funded a $225,000 purchase order facility for an importer of Perfume in the Chicago area. They sell to small retail stores and distributors. A factoring company in Texas is financing the company’s accounts receivable.

RMP provided a $1 million purchase order facility for aircraft engines for a client in Seattle. Through domestic wires, RMP will secure the products for major airlines. The deal was brought to RMP directly from the client. A California-based factoring company will serve as the takeout.

Finally, RMP closed a $1.8 million purchase order facility for a Massachusetts company that buys and rents temporary roads for large electric companies during repairs. A Massachusetts company is financing the accounts receivable financing.