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King Trade Capital Provides Supply Chain Finance Facility to Importer

March 15, 2016, 07:31 AM
Filed Under: Importer

King Trade Capital has established a supply chain finance facility for a small family-owned business based in California. The company imports portable event seating customized for professional and amateur sporting events. KTC expects to provide approximately $2 million in annual financing with an initial funding of $300,000.

King Trade Capital was introduced to the company through a relationship with one of the nation’s largest banks.  The company’s growth was creating additional capital needs that outstripped the current availability provided by the bank and its factoring facility.  With purchases from their overseas vendor increasing, the company needed a solution to pay for goods that exceeded the open terms and credit limit provided by their overseas vendor.

The bank had the confidence to refer their customer to King Trade Capital to help the customer continue to grow and to allow the bank to maintain and grow their factoring facility. King Trade Capital was able to react quickly, structuring and closing an import finance facility in just a week.  The facility will advance funds to the overseas vendor under Documents against Payment and Documents against Acceptance arrangements after goods are in transit from Asia.  The King Trade Capital finance facility also offers additional availability to pay freight and import duties, if needed.

King Trade Capital is the country's oldest and largest independent provider of purchase order and contract finance for small to middle-market companies in the U.S., UK and Canada. Since 1993 KTC has provided more than $2 billion of capital in over 350 public and private companies worldwide.

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