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Green Hygienics, Crossroads Financial Sign Inventory Financing Agreement

March 15, 2013, 07:08 AM
Filed Under: Distribution

Green Innovations announced its wholly owned subsidiary, Green Hygienics, Inc. has signed a $1.0 million inventory financing agreement with Crossroads Financial, a Florida-based inventory and purchase order financing company.  As per terms of the agreement between the two companies, Crossroads will supply Green Hygienics with up to $1.0 million in stand-alone secured inventory lines of credit.

"We are very pleased to have established an inventory funding relationship with Crossroads as it will be a very valuable and strategic tool for us going forward," stated Mr. Bruce Harmon , chief executive officer of Green Innovations.  "Accessing a non-equity based secured inventory financing package will allow us to quickly raise additional capital when we require it to grow the business and prepare to potentially complete larger product orders without the need to issue any new shares."

Founded in 2004, Crossroads Financial, LLC, provides stand-alone inventory and purchase order lines of credit for borrowers in the USA and Canada who are traditionally ignored by larger asset-based lenders and banks. Crossroads offers revolving lines of credit against existing, in-transit, or on-the-water inventory, allowing companies to leverage their existing assets to fund expansion and growth.  Since 2004, Crossroads Financial has helped generate over $500,000,000 in receivables funding transactions.

Green Innovations Ltd., through its wholly-owned subsidiary Green Hygienics, Inc., is the exclusive licensed North American distributor of American Hygienics Corporation's 100% tree-free bamboo-based product line, including personal care and paper-based goods.


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