Seacoast Business Funding closed a $650,000 factoring facility for a Southeast-based importer that distributes hardware and fasteners for masonry applications on a national basis.

The company will use the proceeds of the facility to increase cash flow and pay suppliers for incoming products.

The client was referred to Seacoast Business Funding by Seacoast National Bank.

“Seacoast was able to fund and underwrite the client in three weeks, providing the company with a reliable cash flow to maintain the inflow of product without resulting in downtime,” said Jay Atkins, president of Seacoast Business Funding.