Trade Finance Solutions (TFS) funded a cross-border C$4.5 million ($3.2 million) credit facility to a sporting goods and toy distributor in Canada that purchases inventory from Asia and sells in Canada and the U.S.
The company is headquartered in Toronto with a regional office in Los Angeles. The TFS credit facility supplements an existing major bank facility in Canada and will provide the company with additional working capital to meet its rapid growth with major retailers on both sides of the border. The cross-border financing helps the company with improved liquidity by more than doubling its existing facility allowing the company to continue to grow its business in a profitable manner.
The company is a well-established industry leader in the distribution of sporting goods and toys targeted toward younger children and pre-teens.
Karim Habib, TFS managing director, Canada, said, “Closing this transaction validates our position in supporting small & medium size companies with their growth opportunities across North America, as we continue to build our presence.”
TFS is a provider of domestic and international finance for growing mid-sized businesses across a wide variety of industries and geographic locations.