King Trade Capital (KTC) welcomed back a client from 12 years ago by providing a $5 million import finance facility with an accordion feature to expand to $10 million.
The owner/founder of a food products company reached out to KTC founder, Edward King, to discuss the happy yet surprising doubling of their sales in 2021.
The two founders met over 12 years ago when the client’s bank introduced him to the KTC team because he needed help financing the company’s imports when he had a business challenge that affected the company’s balance sheet.
Due to the success of his previous financing, the client had a great deal of trust in KTC, which helped when others wouldn’t or couldn’t. The client called KTC when orders and projections from retailers started coming in significantly higher than initially indicated (one big box retailer came in 12 times higher.) KTC, being confident in the client’s capability, very quickly reestablished a finance facility, alongside the client’s bank asset-based lending relationship, to allow the client to grow its sales significantly with Target, Costco, Sam’s Club and others.
“It is very flattering when past clients contact us to provide new PO finance solutions, especially when their businesses have grown significantly and are well financed,” Edward King, founder and managing partner of KTC, said.
