King Trade Capital completed a $2.1 million purchase order finance facility for a California-based dry baked goods manufacturer. The client, a previous client of King Trade Capital, reached out through its private equity owners after a growth initiative in previous years utilizing KTC’s PO financing. The client returned to KTC for a PO financing solution to support a large holiday program awarded by a national grocery chain.
King Trade Capital moved quickly to underwrite the purchase orders and tailored a solution that enabled the client to pay multiple vendors for the raw materials and packaging necessary to manufacture and fulfill more than $4 million in seasonal orders.
The facility, provided in conjunction with the client’s existing asset-based lender, not only gives the client the liquidity needed to fulfill its seasonal backlog, but also positions the client to pursue and support larger growth opportunities moving forward.
