Women’s Apparel Distributor

Location: 
New York
Type of Deal: 
Domestic/Import
Deal size: 
$2,000,000
Funding Requested: 
Letter of Credit/Cash Funding

A factor referred KTC to an apparel company that had been in business for several years. The company had steadily grown by fulfilling customer orders on time with quality product. The company was projecting to double sales for the year and was beginning to enter its busy season. The company needed help to fulfill orders, however its balance sheet could not sustain traditional financing, and the existing factor was not in a position to over-advance.

KTC was all too familiar with the company’s dilemma and possessed the ability to solve the problem. KTC provided financing to the company in excess of $2 million by securing payment to overseas suppliers with letters of credit and paying direct against presentation of shipping documents. The goods were picked and shipped to the end customer. With KTC’s help, the company was well on its way to realizing its sales goal for the year and increasing its profitability.