Express Trade Capital provided a multi-tranche facility for a New York-based producer of Moroccan condiments.
The client began with a factoring facility with Express Trade in June 2015 and as sales grew, so did the need for more funding and services. When an opportunity occurred to expand the company’s operations facility by 35%, Express Trade added an accordion feature to bolster the company’s facilities.
“We had to get creative to facilitate their growth. As a longtime client, they had gained our trust, which allowed us more flexibility. We stretched our formulas and added facilities to provide the capital required for our client’s expansion of their overseas operations,” David Estrakh, senior vice president at Express, said. “Our specialty is providing value by knowing, understanding and trusting our clients and their operations deeply enough to move swiftly and decisively when good opportunities inevitably arise. I’d like to highlight the tireless efforts of our managing director Mark Bienstock and Ashley Orlando for expertly handling this opportunity while navigating the uncertainties precipitated by the pandemic.”
Express Trade Capital specializes in factoring, letters of credit, PO funding and inventory-backed lines of credit.
