nFusion Capital and Iron Horse Credit funded a $5.5 million line of credit to a wholesaler of kitchenware, chinaware and kitchen accessories. The financing will support the company’s working capital needs and provide a steady flow of capital during seasonal fluctuations in demand for its products._x000D_
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With inventory typically depleted during the holiday season and a significant portion sourced from China, timely funding was crucial to replenish stock before vendors closed for the Chinese New Year holiday. Having had a prior relationship with senior executive vice president Alexandra S. Scoggin, the company turned to nFusion for a solution, and nFusion brought in Iron Horse Credit to partner on the transaction._x000D_
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“I am pleased that we were able to craft an out-of-the-box solution for our client, thanks to our unique partnership with Iron Horse Credit,” Scoggin said. “Iron Horse Credit’s inventory line complemented nFusion’s ABL facility to deliver maximum borrowing capacity against the Company’s inventory and other assets. This funding will support the Company’s growing cash flow needs and address their seasonality demands.”_x000D_
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In approximately four weeks, nFusion provided a $4 million ABL facility, and Iron Horse Credit provided a $1.5 million inventory revolving line of credit. The financing provided immediate access to funding to purchase and ship inventory._x000D_
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“This was a great effort by IHC’s team, nFusion’s team and the company to get this transaction funded quickly,” Cesar Silva, vice president of business development at Iron Horse Credit, said. “We look forward to working with the Company as they execute their growth plans.”
Forward for Specialty Finance
