Star Funding announced that it provided a $1 million financing to a New York-based manufacturer of children’s apparel. The facility will be used to provide accounts receivable financing, and provide purchase order financing; whereby Star purchases goods from the suppliers, while client can focus on managing the contractors on the cut, make and trim in Peru.
The company designs and manufacturers high-end children’s wear made of high quality raw materials and the goods are featured in large department store and specialty boutiques.
This facility will enable the company to fulfill its existing customer orders, manage the seasonality of the business and take on additional and larger customer orders.
“The owner has extensive years of experience in this industry, and brings a wealth of knowledge to this entrepreneurial venture,” Ronnie Sussman, vice president of Business Development at Star stated. “We are very pleased to have provided this flexible facility enabling the growth of our client’s children’s clothing business across the U.S. and Europe.”