Daily News: October 8, 2013

Star Funding Provides $3.5MM to Linens/Houseware Distributor

Star Funding announced that it provided $3.5 million in financing to a New Jersey-based manufacturer and distributor of linens, bedding and housewares. The financing facility will provide the client with finished goods purchase order financing, as well as accounts receivable factoring.

The client was looking for assistance with a significant number of large orders received from large big box retailers. Star will provide the funding to enable the company to pay the suppliers up to 100% of the cost of the goods, and bring in product from overseas for shipment to its customers. This new facility will enable the client to fulfill its existing orders, and accept new orders and distribution opportunities.

Jack McLaughlin, senior vice president of Business Development at Star Funding, 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.”