King Trade Capital (KTC) completed a $2.5 million purchase order (PO) finance facility for a returning client in support of seasonal sales needs. An old client that KTC has financed in several different businesses contacted KTC to help provide a PO finance solution in support of its growing holiday sales.
Due to growing sales, the client needed a PO finance solution to secure payment to overseas supplier to fulfill their seasonal orders. KTC worked quickly to underwrite the end customers’ purchase orders and issued a letter of credit on behalf of the client to its overseas manufacturer to ensure the client would meet the delivery deadlines set by retail customers.
“This is a client we have worked with many times over the years and have seen them perform with many different products going into retail,” Andrew Chong said. “We are pleased to continue our relationship with the principals of the company and have offered them a finance solution that allows them to secure the inventory necessary to meet their seasonal orders. We are proud to be a reliable finance partner, capable of acting swiftly and effectively.”
