Gateway Trade Funding partnered with a factoring company to provide a $3 million purchase order facility to a healthcare supplies wholesale distribution company.
The company received a large contract for personal protective equipment from a state government, but it lacked the working capital to fill the order. The company’s factoring company recommended working with Gateway Trade Funding to find a way to accept the order.
“Our purchase order financing is ideal for companies like this healthcare supplies wholesale distribution company. It allows them to purchase the quantity of product needed to take on new large contracts without expanding their existing capital,” Mark Polinsky, principal at Gateway Trade Funding, said.
