Commonwealth Capital is pleased to announce that it has funded a Minnesota-based Apparel Distributor through a $200,000 invoice factoring facility. The Company, which had been self-financed, had recently received a large order from a Big Box Retailer. The order was roughly equal to the Company’s previous year’s sales.
The Company, looking for a solution to pay the supplier of the goods, requested a line of credit from their current Bank. The Bank, however, was unable to provide financing based upon the receivables. The Bank, knowing that this type of funding was normal for a factoring company, referred them to Commonwealth Capital. Commonwealth was able to meet the Company, underwrite the transaction, and provide funding, all in little more than a week.
Do you have questions about how Commonwealth Capital can help you focus on the growth opportunities of your apparel distribution business, instead of worrying about cash flow? Contact us to find out about how we accelerate cash flow for businesses every day.