Newbridge Global Sourcing has expanded its service offering to include accounts receivable financing and asset-based lending.
“We’re excited to add to our product line to help growing companies with additional working capital,” said Brian Weiner, CEO of Newbridge. “We help companies access cash that is tied up in accounts receivable and inventory. We look forward to continuing to help SMEs and large enterprises grow with our unique funding solutions.”
Newbridge provided more than $60 million in committed financing to clients throughout North and South America as well as Asia during the second quarter of 2019. Transactions included $56 million in accounts receivable and supply chain financing to a consumer products company which designs, manufactures and markets technology products and accessories for sale in North America, Canada and Mexico; a $2 million asset-based facility for an information technology company focused on cybersecurity for global and major money center banks; and $6 million in supply chain and accounts receivable funding for a Texas exporter of meat and poultry to help them expand their reach to Mexico-based distributors and retailers.
Headquartered in New York City, Newbridge is an alternative capital provider, providing flexible capital solutions such as supply chain finance, payables funding, accounts receivable financing and asset-based lending to SMEs and large enterprises with revenues of $10 million to $500 million in a wide range of industries.
