Tradecycle Capital, an Indianapolis-based trade finance provider, funded five revolving accounts payable funding facilities in August.
- A $1million limit to a family office backed supplier of component parts to the recreational vehicle industry
- A $3 million limit to a privately owned importer and distributor of bulk sheet and coiled metals
- A $1 million limit to a major supplier of solar energy solutions
- A $2 million limit to a privately held producer of roasted nut and snack products
- A $2.5 million limit to a private equity backed producer of specialty recycled paper products
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All five programs are unsecured and supplemental to their senior lending facilities.
By extending their accounts payable payment terms without stressing their vendor relationships, all Tradecycle customers draw more working capital into their operating cycles and support sales growth. This enables the companies to improve cash flow and add value to all stakeholders involved in the businesses.
Founded in 2016 by Justin Goheen, Tradecycle provides unsecured accounts payable finance solutions that work seamlessly with senior credit facilities to supplement the working capital needs of its clients.
