Capital Business Credit Provides Financing to Ensure Chinese New Year Factory Shutdown Doesn’t Impact U.S. Retail Sector for Spring and Summer 2016
December 10, 2015
Financing Available for Chinese-based Exporters and U.S.-based Importers/Retailers to Ensure Spring Goods are Delivered on Time to Reach Consumers for the Coming Summer Shopping Season
NEW YORK – December 10, 2015 – In just a few short weeks, factories in China will shut down for more than a month in observance of the Chinese New Year. For U.S. importers and retailers it is crucial that their goods are made and shipped prior to this shutdown in order to arrive before the spring/summer shopping season.
To support the flow of goods between China and the U.S. and to ease the balance sheet strain that importers/retailers often face by having to pay for the goods upfront, Capital Business Credit (CBC), a supply chain finance company, is offering its Supplier Early Payment (SEP) Program to ensure goods are shipped on time. The program pays manufacturers (suppliers) upon shipment and then provides the U.S. based importer/retailer up to 120 days to pay back CBC.
“CBC uniquely understands the financing needs on both sides of the Pacific,” said Andrew Tananbaum, executive chairman of CBC. “Chinese-based manufacturers are requesting faster payment terms and putting U.S.-based importers and retailers under seasonal cash flow stress by requiring advance payment for goods that will not hit store shelves for months. This is where CBC’s SEP Program comes in, minimizing the balance-sheet strain on companies. We provide on-the-ground expertise and financial support to keep products flowing from China to America’s store shelves all year round, including during the Chinese New Year.”
With more than 30 years of experience financing the consumer supply chain, CBC’s Chinese New Year program provides lines of credit up to $20 million through trade finance, asset-based and factoring facilities. These programs are available to overseas suppliers and U.S.-based importers all year.
Capital Business Credit’s CBC Trade Finance division – with offices in the U.S. and Asia – works specifically with manufacturers/suppliers outside of the U.S. to relieve the financial pressure that exists, as U.S.-based importers rely more on extended open account terms of sale. Through CBC Trade Finance’s SEP Program, manufacturers/suppliers receive 100 percent payment for goods at the time of shipment, while U.S.-based retailers/importers have up to 120 days to pay the purchase order.
About Capital Business Credit
Established in 1988, Capital Business Credit LLC (www.capitalbusinesscredit.com) 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. 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.