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Star Funding Provides $3.5MM to Linens and Housewares Distributor

October 08, 2013, 07:36 AM
Filed Under: Distribution

Star Funding Inc. announced that it has provided $3.5 million in financing to a New Jersey-based manufacturer and distributor of linens, bedding and  housewares.  The financing facility will provide the client with finished goods purchase order financing, as well as accounts receivable factoring.  The client was looking for assistance with a significant number of large orders received from large big box retailers.  Star will provide the funding to enable the company to pay the suppliers up to 100% of the cost of the goods, and bring in product from overseas for shipment to its customers.  This new facility will allow the client to fulfill its existing orders, and to leverage this success to accept additional orders and new distribution opportunities. 

Jack McLaughlin, Senior Vice President of Business Development at Star Funding, Inc. stated, “We are very pleased to have provided this flexible facility allowing for the future growth of our client’s growing business.  The team at Star Funding looks forward to working with the Company’s seasoned management team in the years to come.”

Star is a privately held company which has been in the Purchase Order Finance for both Work-in-Process and Finished Goods, Letter of Credit and Factoring business since January 1999. 

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