Gateway Trade Funding provided a $1 million PO facility to a Canadian linens distributor and a $500,000 facility to an athletic equipment supplier.
The Canadian company sells specialist towels and linens imported from India to hotels. The company needed a PO facility to close its cash flow cycle. Gateway was able to supply a letter of credit to its Indian supplier. The facility has helped the Company grow further than its original projections.
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Gateway also partnered with a factoring company to help provide a $500,000 PO facility to a three-year-old Midwest-based winter athletic equipment and apparel company that supplies goods to outdoor retailers. The company’s anticipated growth potential (100% year on year historically) was restricted due to a lack of working capital to pay suppliers, despite high gross profit margins. The PO financing facility provided a letter of credit to its Chinese manufacturer.
