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King Trade Capital Provides $4.5MM In-Transit Finance Facility

July 27, 2016, 07:52 AM
Filed Under: Apparel

King Trade Capital announced the financing of a $4.5 million trade finance facility for a Utah based ski and outerwear company. The financing allows the company to buy seasonal inventory from more than ten different suppliers around the world. The financing helps the company import inventory prior to ski season in North America and to continue manufacturing additional inventory to be sold into international markets later in the year.

King Trade Capital, the pioneer in purchase order (“PO”) and non-bank trade finance, was brought in to provide a trade finance solution for the company while a nationwide asset-based lender worked towards closing their permanent ABL facility. King Trade structured and negotiated a solution that provided continuity to the seasonal business during their peak manufacturing and shipping season and allowed the ABL time to close. King Trade funded in-transit inventory and supported the overseas production of additional inventory in support of seasonal sales, bridging the company’s capital needs until goods are shipped to customers and liquidity is available under the ABL facility. King’s financing will support more than $10 million of seasonal orders.

Edward King, founder of King Trade Capital, commented “We appreciate and are humbled by the trust the asset-based lending community shows in our solutions-based financing. For the past 23 years we have offered unmatched expertise and integrity in PO and trade finance allowing ABL’s in need of a complimentary PO and/or inventory finance solution an option for their clients.”

King Trade Capital is the country's oldest and largest independent provider of purchase order and contract finance for small- to middle-market companies in the U.S., UK and Canada. Since 1993 KTC has provided more than $2 billion of capital in over 350 public and private companies worldwide.

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