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Access Capital Provides $2.5MM Credit Line to Transportation Services Company

October 08, 2013, 07:07 AM
Filed Under: Transportation

Access Capital has provided a line of $2.5 Million to an international transportation services company based in New Jersey with additional locations in Hong Kong and  California as well as affiliates in Shanghai and Macau, China. The new borrower provides ocean and air freight forwarding and direct ocean transportation for cargo shipped between Asia and the United States.

The company sought to replace its existing credit facility secured in 2009 with a cargo financier. The company had increased its reliance on this line as the company and its affiliates experienced rapid revenue growth. Eventually, the company was borrowing close to the cargo financier’s funding limit which, in conjunction with the expensive cost of funds, caused the company to seek a new source of financing. Access Capital’s credit facility replaced the existing one at more attractive pricing and has the necessary flexibility the company will require during its high volume seasons.

Access Capital is a privately held non-bank lender that has been supporting the growth of entrepreneurial companies for nearly thirty years.  Headquartered in New York, Access Capital offers its asset-based lending programs nationwide.

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