Tradecycle Capital, an Indianapolis based trade finance provider, announced it funded a new $3,000,000 revolving Accounts Payable funding facility for a privately owned manufacturer of bean bag furniture and pool float products. Tradecycle was introduced to the company by their senior lender to assist with foreign sourcing of product. Tradecycle is providing extended payment terms that enables the company to support shipments of materials sourced from Asia. The program is unsecured and supplemental to their senior lending facilities.
By extending their Accounts Payable payment terms without stressing their Vendor relationships, all Tradecycle customers draw more working capital into their operating cycles and support Sales growth. This enables the companies to improve cash flow and add value to all stakeholders involved in the businesses.
Founded in 2016 by Justin Goheen, Tradecycle provides unsecured Accounts Payable Finance solutions that work seamlessly with Senior Credit Facilities to supplement the working capital needs of its clients. The technology driven solution provides an additional tool to assist clients in managing their working capital through extended payment terms.