King Trade Capital Provides $2 Million Financing To NY-based Fragrance Business

Wednesday, August 7, 2019

King Trade Capital (“KTC”) is pleased to announce the completion of a $2MM purchase order facility for a fragrance company based in New York (the “Client”).

A friend in the asset-based lending world who was helping the Client find a purchase order finance solution, in order to help the company execute on its large seasonal orders from several US retailers, contacted KTC. The size of the orders exceeded its current credit facilities at its ABL and created a need for KTC’s PO finance solutions.

KTC moved quickly to underwrite the seasonal programs to create a finance solution that would help the Client fulfill its large orders. The financing required structuring working agreements with the Clients’ four existing secured creditors. KTC’s finance solution ultimately provides the Client with an end-to-end finance solution while offering the liquidity needed to execute on seasonal sales.

Through issuance of documentary letters of credit, KTC is helping the Client purchase inventory from its overseas suppliers to ensure timely delivery to the end customers. The existing accounts receivable financing facility will provide the Client with additional liquidity once goods have been shipped. 

King Trade Capital’s finance solution provides the incremental financing needed to keep the Client’s vendors producing and shipping. The Client now has the ability to fulfill its seasonal orders and seek larger orders.

For more than 28 years, King Trade Capital has helped good people and good companies grow their sales and profits. KTC is still operated by its founder, an entrepreneur who understands the needs of operating and growing a business. A pioneer in purchase order finance, KTC has the unrivalled expertise and financial capacity to help our portfolio companies prosper. Our mission is to help people and companies thrive by providing stable and unique PO finance solutions not widely offered in the finance world. Visit www.kingtradecapital.com or call 214-368-5100 for more information.