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Crossroads Provides Inventory Revolver to Sporting Goods Distributor

July 21, 2014, 07:31 AM
Filed Under: Distribution

Crossroads Financial announced that it has provided an $800,000 inventory line of credit for the benefit of a sporting goods manufacturer and distributor. Faced with seasonal challenges, high growth, and Inventory requirements exceeding traditional advances by most asset-based lenders, the company turned to Crossroads to provide an Inventory revolving credit line that had no restriction to the receivables outstanding.

Crossroads is partnering with Aegis Business Credit, who is providing a $1.5 milllion factoring facility for the client.
“This client speaks to one of the major benefits of Crossroads” said Darren Palestine, Director of Sales for Crossroads Financial. “Most lenders were not able to assist due to the Inventory requirement.  “Crossroads was able to step in and provide a facility that did not have a ratio requirement to the AR outstanding and the Crossroads- Aegis partnership on the transaction was a perfect fit for the client’s needs.”

Since 2004, Crossroads Financial has funded almost $100 million to clients, facilitating approximately $1.0 billion in receivable funding, and has become the partner of choice for marketing- leading factors and receivables lenders.

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