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CoreFund Capital Provides $25MM Credit Facility for International Freight Forwarder

November 17, 2020, 08:08 AM
Filed Under: Logistics

CoreFund Capital facilitated an increase to the credit facility for Innocap, Inc., a global logistics and freight forwarding company.

The credit facility was structured by CoreFund Capital with Innocap, Inc.'s wholly owned subsidiary, Unique Logistics International (NYC) LLC, through an amended Secured Accounts Receivable Facility. The initial credit line provided to Unique Logistics International on May,31, 2020 was increased from $12,000,000 to $25,000,000 on November 2nd, to provide the necessary availability to support the ongoing growth for the Company.

"Unique has performed impressively over the past months with a solid base of business. CoreFund is happy to be able to provide the working capital needed to help expand and grow their business," stated Bonnie Castillo, President of CoreFund Capital.  "We are excited to watch them become a dominant player in their industry "

"The Company is now positioned to execute its growth plans with an enhanced credit facility of $25 million," commented INNO's CEO, Sunandan Ray. "We believe this to be a gamechanger for our future acquisition strategy. We are fortunate to have dependable business partners such as Core."

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