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Crossroads Closes Inventory Credit Line for Nutritional Products Manufacturer

June 26, 2013, 04:16 PM
Filed Under: Purchase Order Finance

Crossroads Financial announced it has closed a $750,000 Inventory revolving line of credit for the benefit a manufacturer and distributor of nutritional products. The incumbent lender, providing a factoring facility and a small inventory accommodation loan, recommended Crossroads to the borrower, as the borrower needed a lender who could provide more availability against the inventory. This partnerships created a win-win for everyone involved as the lender is continuing to provide a factoring facility and the client now has the funding to continue to grow. 

The manufacturer, faced with a cash crunch as the business rapidly expanded, turned to Crossroads to create a new working capital solution that would help them fill additional orders, as well as pay down vendors who had extended credit.  “These types of transactions are Crossroads’ “bread and butter” in the industry:  creating value for our factor partners is what we strive for” said Darren Palestine, Director of Sales. “We are always happy when they turn to us- especially when we are able to generate more invoices to factor or finance.”

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