Capital Business Credit Provides a $1.5 Million Revolving Credit Facility to Florida-Based Start-Up
March 18, 2013
Importer of Small Electronics Turns to CBC to Provide Working Capital to Support Order Flow
CHARLOTTE, N.C. – March 18, 2013 – Capital Business Credit (CBC) (www.capitalbusinesscredit.com) is providing $1.5 million revolving factoring facility to a Florida-based start-up that imports and distributes small electronic products.
The Company sought out CBC to ensure that they would have enough capital to cover the shipment of their goods from the Far East, and also be able to get those shipments to their customers once they arrived in the U.S. Initially the relationship will be a hybrid of trade finance and factoring – to ensure that the Company’s suppliers get paid in a timely fashion – and will eventually evolve to a pure factoring relationship.
“The Company needed both working capital to place orders, and to have the cushion to source new inventory while their inventory was in transit from the Far East” said Joe Silipigni, vice president, Capital Business Credit, “While they continue to expand their clientele, and as the demand for their products increases, CBC will be able to support them with the capital they need.”
For more information about CBC’s factoring programs please visit www.capitalbusinesscredit.com or call Joe Silipigni at 704.248.5722 or email him at firstname.lastname@example.org.
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.