Gateway Trade Funding provided a $600,000 purchase order finance facility to a Canadian company selling portable chargers.
When the Canadian company was awarded a large retail opportunity with a U.S. retailer, it needed cash flow assistance for inventory and operations, so its bank referred it to Gateway Trade Funding, which provided funding to help the company fulfill the order and achieve its sales goals.
With the financing from Gateway, the company now has the additional working capital it needs to cover inventory and operations to take on this and other new opportunities.
“Our purchase order financing is ideal for companies like this one because it allows them to purchase the quantity of product needed to take on new large orders,” Mark Polinsky, principal of Gateway Trade Funding, said.
