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Coral Capital Closes $24MM Factoring Facility to IT Infrastructure Provider

April 14, 2015, 08:01 AM
Filed Under: Technology

Coral Capital Solutions, a leading provider of financing solutions to small and middle market businesses, closed a $24 million factoring facility to a  leading provider of custom computing infrastructure platforms including network servers, storage, OEM/ODM appliances, and embedded systems. The facility will allow the California-based company to rapidly grow its sales across the United States.

The business has a full spectrum of customers from venture backed startups to fortune 500 hi- tech based companies.  While management was trying to manage cash flows with its asset-based bank line, it was struggling to meet business demands for its product and services.  This company is uniquely positioned to capture significant market share if it could secure the right financing partner to support the business.  Coral Capital was able to establish a factoring facility to better match the client’s expansion needs, providing both flexibility and a high level of personal service with a customized financing solution.

“This IT hardware provider is very successful at building complex platforms to serve a broad customer base. Due to the rapid expansion in silicon valley backed start ups that are looking for ever more sophisticated technology, there is a growing demand for the company’s customized product offerings.  We are pleased to enhance management’s capability to accept larger contracts for complex hardware and network systems,” stated Rishi Kumar, chief executive officer of Coral Capital Solutions. “By expediting the its cash flow, the company will now be better positioned to order sufficient quantities of components to build customized platforms, and meet shipping deadlines to fulfill new customer orders.”

Coral Capital Solutions provides financing solutions to small and middle market companies in a wide variety of industries throughout the U.S. and Canada. It is a leading source of factoring, asset based lending, purchase order and trade finance products. Coral Capital Solutions is well capitalized, using its own equity to fund clients and therefore has the ability to consummate transactions quickly from commitment to funding.                   

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