CBC Provides $3MM Facility for T-Shirt Wholesaler
July 12, 2016
Trugraphx, a T-shirt wholesaler that sells to major mid-tier retailers, closed a $3 million factoring facility with Capital Business Credit to obtain working capital after spinning off from its parent company.
“We evaluated a lot of different financing options and ultimately decided that using a factor, specifically CBC, made the most sense for several reasons. First, unlike with equity financing options, we wouldn’t have to give away ownership in our company. Second, CBC knows our business, works with our customers regularly, was able to provide competitive rates and a level of counsel that comes from decades of serving wholesalers like us. Finally, they meet all the technology requirements of our customers to ensure a seamless experience,” said Warren Wishart, chief financial officer of Trugraphx.
Trugraphx is a wholesaler of screen printed tees for men, women and children developed in an assortment of designs customized for each retailer’s sales floor and clientele.