Express Trade Capital provided a $5 million letter of credit facility to assist an apparel industry company with the production of personal protective equipment.
The client was using Express Trade Capital’s factoring and PO funding facilities for several years before pivoting to produce PPE during the COVID-19 pandemic. The client needed to fulfill immediate orders and replenish stock but was uncomfortable leaving large deposits overseas before ensuring that goods were produced and passed quality inspections. The prior relationship allowed Express Trade Capital to piggyback on already existing due diligence and history to deliver an add-on facility. The client can now start production without deposits and fulfill demand.
Express Trade Capital specializes in factoring, PO funding and letters of credit. The company’s freight forwarding division also provides global and domestic shipping and logistics.
