The Hedaya Capital Group recently provided a $2.5 million factoring facility to a New Jersey-based golf apparel brand. The company began expanding to big box stores such as Bloomingdale’s, Macy’s, Saks Fifth Avenue and more. Managing the accounts receivable became cumbersome and time-consuming, so the company turned to its business advisor, a factoring industry veteran, who referred them to Hedaya Capital.
Hedaya Capital’s factoring facility was designed to enable the company to continue to expand and provide consistent cash flow that enables the company to pay vendors and suppliers timely. Hedaya’s approach allowed the company to start gradually factoring its receivables.
“Hedaya Capital helped us find a better process to keep our accounts receivable at a respectable and appropriate amount as growth exploded,” the company’s chief financial officer said. “They have been great in understanding where we are in our growth cycle, helping us to collect open receivables and provide flexible financing without bank restrictions. They made the transition smoothly and gave us the capital we needed to grow while alleviating stress at the same time.”
