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King Trade Capital Provides $1MM PO Finance Facility to Importer

January 24, 2013, 07:11 AM

King Trade Capital (KTC) announced the recent funding of a $1 million purchase order finance facility for a New York based importer of wireless accessories.

KTC was introduced by the client’s factoring company as its client was seeking to establish a purchase order finance relationship which would support financing of the inventory required to fulfill a large program from a regional retail chain.

KTC quickly established a structured inventory purchase funding facility that provides financing with an advance rate of 100% of the cost of the required inventory. The facility provided cash funding to the company's overseas supplier for the cost of the in-transit inventory as well as funding for the freight, duty, and logistics costs.

KTC established an inter-creditor agreement with the factor which allowed the company to establish a significant sales program with the retail chain. In addition, the client requested a two year facility with KTC so they know that they have the capability to take on larger orders from a growing customer base with no strain on cash flow.

King Trade Capital is an independent purchase order and contract finance company in the U.S. focused on providing purchase order and contract finance for small- to middle-market companies nationwide.

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