Star Funding provided $15 million financing to a growing consumer electronics manufacturer and distributor. The facility will be used to provide purchase order finance and accounts receivable factoring, enabling the company to expand its capabilities in new markets.
The client supplies electronic devices and consumer merchandise and has annual revenues of more than $100 million.
Howard Moore, Star Funding SVP of Business Development, stated, “We are very pleased to have provided this flexible facility allowing for the future growth of our client’s growing business. The team at Star Funding looks forward to working with the company’s seasoned management team in the years to come.”
Star is a privately held company that enables undercapitalized companies to expand their businesses and sustain rapid growth.