CAPITAL BUSINESS CREDIT PROVIDES $50 MILLION IN NEW FACTORING AND TRADE FINANCE FACILITIES TO APPAREL AND ACCESSORIES COMPANIES
July 25, 2012
CBC Provides Integrated Financial Offering Help Manufacturers and Importers of Retail Goods Finance the Entire Supply Chain Process
NEW YORK – July 25, 2012 – Capital Business Credit LLC (CBC) (www.capitalbusinesscredit.com), a vertically integrated financial products and services company, funded approximately $50 million in new factoring and trade finance facilities to apparel and accessories companies from January to July, 2012.
The senior facilities were provided to approximately 15 companies primarily in the apparel manufacturing sector. Combined, the companies have revenue volume of approximately $450 million and are located in the New York and Los Angeles metro areas.
In addition to providing traditional factoring products and services, many importers and manufacturers have turned to CBC to utilize their deep experience in creative supply chain financing to work with their suppliers abroad by utilizing the company’s trade finance programs. CBC has seasoned executives located all over North America as well as in Asia and Mexico who play an instrumental role in negotiating terms and aiding in the procurement process overseas.
“During this sluggish economic recovery period, we are seeing an expanding need for working capital to fund growth, run day-to-day operations and support the seasonal ebbs and flows in the apparel and accessories business,” said Andrew Tananbaum, executive chairman of Capital Business Credit.
Over the last seven months, CBC has experienced a significant uptick in interest for factoring and trade finance facilities, particularly between $1 million and $10 million, to finance the importing and manufacturing of retail goods. Given CBC’s flat organizational structure, it can approve the funding of the facilities in less time than other non-bank lenders.
“As experts in retail supply chain finance, we understand the importance of having access to quick and reliable working capital,” Tananbaum continued. “Our organization’s structure, ability to make quick financing decisions and international presence has importers all over the U.S. seeking out our programs.”
Marc Adelson, president and chief executive officer of CBC, concluded, “Even though the Federal Government has funded and mandated lending from the larger financial institutions, traditional banks are still not lending to small- and middle-market companies. Fortunately, CBC has the capital and expertise to ensure that even when a traditional bank says no, middle market companies have an opportunity to secure the financing they need.”
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.
KCSA Strategic Communication
212-896-1272 / email@example.com