CAPITAL BUSINESS CREDIT PROVIDES $35 MILLION IN NEW FACTORING AND ASSET-BASED FACILITIES TO FURNITURE & FLOOR COVERING BUSINESSES
October 10, 2012
CBC Provides Integrated Financial Offering to Help Manufacturers and Importers of Home Furnishings Finance the Entire Supply Chain
CHARLOTTE – October 10, 2012 – Capital Business Credit LLC (CBC) (www.capitalbusinesscredit.com), a vertically integrated financial products and services company, recently provided $35 million in revolving lines of credit to five businesses in the home furnishings sector.
The factoring and asset-based facilities were provided to companies primarily in the floor coverings and furniture industries. Combined, the companies have revenue volume of approximately $85 million and are located in North Carolina and Georgia. The companies manufacture their products domestically and also import finished products.
“CBC has deep expertise in financing the furniture, home furnishings and floor covering industries,” said Malcolm Ferguson, Charlotte regional manager for CBC. “Many of the companies we finance come to CBC because we understand the dynamics in which they operate, and provide the flexibility to help them grow.”
CBC adds an element of flexibility not provided by traditional banks, which are limited in their lending to small – and mid – sized companies. Additionally, CBC offers financial products to support all aspects of the supply chain – from financing of the manufacturing process to lending against a customer’s purchase orders.
“At CBC, we have financial solutions to help companies that manufacture their goods in the U.S., as well as trade finance programs for those who make their goods abroad,” said Marc Adelson, president and chief executive officer of CBC. “In the furniture sector specifically, we have a long track record of helping companies in various stages. As the economy continues to improve, we expect to see more companies look for recourse and non-recourse facilities.”
About Capital Business Credit
Established in 1988, Capital Business Credit LLC (http://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; asset-based lending; and international financing. Capital Business Credit is based in New York, with offices in Hong Kong; Los Angeles; Charlotte, NC; and Ft. Lauderdale, FL.