Tradecycle Capital, an Indianapolis-based trade finance provider, announced the increased funding of a $1,500,000 revolving Accounts Payable facility for a metal processing operation.
The company strategically sources non-ferrous scrap, including copper, aluminum, brass, tin, bronze, steel, zinc, and nickel, from a diverse group of suppliers such as industrial manufacturers, dealer markets, and utilities. The operation processes various forms of materials, including post-consumer wire/cable, stamping/slitting scrap, and other scrap, through a value-added process before selling to mills, remelters, and other industrial customers.
This increased funding program allows the company to further enhance both cash flow and working capital.
Just nine months into the partnership, the customer has doubled their limit, a testament to the growth and profitability facilitated by this strategic financial support.
By extending Accounts Payable terms without straining vendor relationships, Tradecycle Capital clients can draw more working capital into their operating cycles, supporting sales growth.
About Tradecycle
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.