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Express Trade Implements Multi-Tranche Facility for NY-Based Condiment Maker

November 04, 2020, 08:50 AM

Express Trade Capital, Inc. announced a new multi-tranche facility for a New York based client producing Moroccan condiments. This client has been with Express since June 2015. They began with a factoring facility and, as their sales rapidly grew, so did the need for more funding and services. Having already built a strong relationship over the years, when an opportunity arose to substantially expand their operations facility by 35%, we added an accordion feature to bolster their facilities.

“We had to get creative to facilitate their growth. As a longtime client, they had gained our trust which allowed us more flexibility. We stretched our formulas and added facilities to provide the capital required for our client’s expansion of their overseas operations,” said Express SVP, David Estrakh. “Our specialty is providing value by knowing, understanding and trusting our clients and their operations deeply enough to move swiftly and decisively when good opportunities inevitably arise. I’d like to highlight the tireless efforts of our Managing Director Mark Bienstock and Ashley Orlando for expertly handling this opportunity while navigating the uncertainties precipitated by the pandemic.”

Express Trade Capital specializes in Factoring, Letters of Credit, PO Funding, and Inventory backed lines of credit. With its freight forwarding, Express also provides full service global and domestic shipping and logistics.

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