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King Trade Provides $750,000 Supply Chain Finance Commitment for Importer

September 03, 2013, 07:39 AM
Filed Under: Importer

King Trade Capital (KTC) announced the recent funding of a $750,000 supply chain finance commitment for an Ohio-based importer of accessories.

A financial consultant introduced KTC to their client who was seeking to establish a supply chain finance facility to support the purchase of inventory needed to fulfill a large order from a major retailer. The company did not have sufficient open terms from its vendors and had reached the limit of its bank line of credit.  King Trade Capital quickly established a facility that provides financing with an advance rate of 100% of the cost of the inventory needed to fulfill the orders. Using letters of credits for overseas suppliers and cash payments to domestic suppliers and logistics companies KTC has offered a supply chain solution that allows the client to grow.

King Trade Capital quickly offered a creative finance solution that included multiple inter-creditor agreements including the commercial bank with the existing line of credit as well as a new specialized receivables finance facility at a separate major bank. This allowed the company to finance the entire supply chain using alternative finance sources as needed. The end result, the financing enabled the company to take advantage of the opportunity to start a substantial sales program with a major retailer.

King  Trade Capital ("KTC") is the country's oldest and largest independent  purchase order and contract finance company focused on providing  purchase order and contract finance for small to middle-market companies  nationwide. Since 1993 KTC has provided more than $1.5 billion of capital in over 300 public and private companies worldwide.

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