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Star Funding Provides Financing to NY-Based Children’s Wear Designer

July 17, 2013, 03:02 PM
Filed Under: Manufacturing

Star Funding announced that it has provided a $1 million financing to a growing manufacturer of children’s apparel.  The facility will be used to provide accounts receivable financing, and provide purchase order financing; whereby Star purchases goods from the suppliers, while client can focus on managing the contractors on the cut, make and trim in Peru. The company designs and manufacturers high-end children’s wear made of superior quality raw materials and the goods are featured in large department store and specialty boutiques.

This facility will enable the company to fulfill the company's existing customer orders, manage the seasonality of the business, and take on additional and larger customer orders.
“The owner has extensive years of experience in this industry, and brings a wealth of knowledge to this entrepreneurial venture.”  Ronnie Sussman, vice president of business development at Star Funding stated.  “We are very pleased to have provided this flexible facility enabling the  growth of our client’s children’s clothing business across the U.S. and Europe.” 

Star is a privately held company which has been in the purchase order finance for both work-in-process and finished goods, letters of credit and factoring business since January 1999.

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