Express Trade Capital provided a $6 million factoring facility for an importer of menswear.
The company faced growing sales and was constrained by the limits of its existing bank facility. Express conducted a quick set up and transition from the client’s old facility.
Given current market conditions, the most efficient way to receive credit protection while maximizing the flow of capital was to take advantage of a privately run factoring facility. The company expects to leverage the facility to bolster working capital and purchase more product to fulfill orders.
“When we see that a deal is right for all sides, we go out of our way and do everything we can to deliver the best custom solution fast,” Helen Ku, senior vice president of Express, said.
Express Trade Capital specializes in factoring, letters of credit, PO funding and inventory-backed lines of credit.
