Bradford Industries Utilizes Alternative Financing to Fuel Growth
May 23, 2013
Capital Business Credit provides Bradford Industries with Accounts Receivable, Inventory and Equipment Financing
NEW YORK – Bradford Industries (Bradford), a Massachusetts-based company that provides polymer coatings for airbags and other items, is utilizing a customized financial solution from Capital Business Credit to grow its business.
Through the relationship, Capital Business Credit is providing a $4.5 million revolving facility that lends against both inventory and accounts receivable. Additionally the Company has received term loan support to help fund the purchase of equipment.
Bradford sought out CBC in July, 2010, when the Company decided to move from working with a traditional lender to a partner that offered flexible, non-traditional solutions. Today, the Company has improved earnings due to the financing they have received from Capital Business Credit.
“Capital Business Credit understood the Bradford story and believed in our business,” said Dick Satin, president of Bradford Industries. “Since the inception of our relationship, they have worked tirelessly with us to develop financial solutions to meet our specific needs. With their financial backing, the Company recently purchased a new piece of equipment which enabled us to expand our customer base.”
Commenting on the relationship, Marc Adelson, president and chief executive officer of Capital Business Credit said, “Our top executives worked with the management team at Bradford to quickly develop a facility that would support their business growth. We took a forward-looking approach, understanding that their business had real growth potential, as opposed to focusing on the Company’s recent financial history.”
About Capital Business Credit
Established in 1988, Capital Business Credit, LLC (www.CapitalBusinessCredit.com) is a commercial finance company specializing in providing creative supply chain financing solutions. The Company’s service offerings include: full-service factoring; immediate cash for receivables; single debtor credit coverage; letters of credit; accounts receivable management services; inventory lending; and international financing. CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S.-based importers working with Asia-based suppliers (exporters). Capital Business Credit is based in New York, with offices in Hong Kong; Shanghai; Los Angeles; Charlotte; NC; and Ft. Lauderdale, Fla.