FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


LSQ Provides $15MM Invoice Finance Facility for Cell Phone Wholesaler

April 18, 2024, 07:50 AM
Filed Under: Distribution

LSQ originated a $15 million invoice finance facility for a Florida-based distributor of cellular phones and other personal electronic devices.

The company will use the additional capital to support its growth trajectory since adding new product lines in the past 18 months.

“The company has seen an explosive uptick in business,” said Renee Jackson, LSQ National Sales Director, “and, as we have seen across a variety of industries, that puts a tremendous strain on cash flow and can slow down growth. For a company like this, an invoice finance facility is a great way to conquer those challenges and not add debt to their balance sheet.”

The distributor was introduced to Senior Regional Vice President Chris Collins by a partner in the LSQ banker referral network. This opportunity presented a unique set of challenges due to the foreign ownership of the U.S. operation, along with the abnormally high customer concentration within their receivables base.

“We know banks are in transition when it comes to their credit appetite and are having to come up with creative solutions to maintain long-standing relationships with clients,” said Collins. “We are thankful for the referral and partnership to help serve this company and are honored by the trust that the banker and client have put in LSQ.”

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.