CBC Provides USD3m factoring facility to Trugraphx
July 18, 2016
Trugraphx, a t-shirt wholesaler that sells to all major mid-tier retailers, has announced that it has selected Capital Business Credit (CBC) to provide a factoring facility, totalling approximately USD3m.
Warren Wishart, Chief Financial Officer, Trugraphx, commented: “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. Their financing and hands-on approach is invaluable to our business.”
Charles Sharf, Executive Vice President at CBC, commented: “Having worked with hundreds of apparel wholesalers/importers over several decades, we understand how to support Trugraphx’s growth.
“Rather than waiting 60 to 90 days for their customers to pay, we provide the company with the capital, and then they can use those funds to operate and grow their business.”
Established in 1988, Capital Business Credit LLC is a global financial products and services company. The company’s solutions include: full-service factoring; accounts receivable management services; inventory lending; asset-based lending; and international financing.