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King Trade Capital Provides $7MM to Drinkware Importer

October 18, 2016, 07:32 AM
Filed Under: Importer

King Trade Capital (“KTC”) announced the funding of a $7 million PO finance facility for a drinkware importer based in Oklahoma.

KTC was approached by a large national bank with a referral to a one-year old importer of drinkware that had established a new relationship with one of the country’s largest big box retailers. The retailer was seeking a partner that could ramp production immediately for a rollout of a modular program of unlicensed and licensed drinkware.

Although the company was young and their balance sheet too small to support the finance need of the new program, KTC instead looked at their ability to perform in order to craft a finance solution that supported the retail program. The prior experience of the principals, their knowledge of production and logistics coupled with their connections that allowed them to secure the large program, helped provide validation to KTC that if provided proper capital they would succeed.

Given the early stage of the business and the size of the capital need, most lenders would require the company to raise equity. KTC viewed the business differently and was able to structure a PO and trade finance facility, in conjunction with a national factor, which provided the company a comprehensive finance solution.

KTC was able to evaluate, underwrite, and close the PO finance solution in a timeframe that allowed the company to finance 100% of the cost of goods and begin their initial deliveries on time. By doing so, the bank further solidified its relationship with the company through its desire to put the client’s needs first by making an introduction to a trusted finance partner, King Trade Capital, that delivered an alternative finance solution to help their customer grow.

Clint Stanton, of KTC remarked, “We are humbled by the continued confidence placed in us by our referral sources that provides us the opportunity to help their clients to take their businesses to the next level. We are thankful for our relationships in the marketplace and excited about helping another young business with excellent growth prospects.”

King Trade Capital is the country's oldest and largest independent provider of purchase order and contract finance for small to mid-sized companies in the U.S., UK and Canada. Whether a client needs $50,000 or $20 million. King Trade Capital has finance solutions that help companies grow. Since 1993 KTC has provided more than $2 billion of capital in over 350 public and private companies worldwide.

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