Express Trade Capital provided a $1.25 million combination facility for a Hawaii-based loungewear company.
According to Express Trade Capital, while many companies in the apparel industry have experienced drastic reductions in sales volume, a shift to loungewear has increased sales for at least this small segment of apparel wholesalers, including some others in similar categories like athletic apparel and gear.
The sudden increase in consumer demand for loungewear specifically bolstered sales for Express Trade Capital’s recent client, which added more accounts and received larger orders in 2020 than ever before. The client kept up with the increase with its own funds until hitting a wall on its capacity to grow further without outside capital.
Express Trade Capital created two facilities, including a $1 million A/R financing facility and a $250,000 purchase order funding facility, to help the company pay suppliers while smoothing gaps in working capital.
Express Trade Capital specializes in factoring, PO funding and letters of credit.
