In five years, the company we worked with has created core technology that is focused on custom injection molding methods that compete against overseas suppliers. By creating in-house capabilities that greatly reduce upfront tool costs and reduce production cycles, they can offer faster lead times to their market. This has positioned the company to become a key supplier for a major consumer construction tool firm who is reshoring their production.
The company has doubled or tripled sales every year while building their mechanical and financial infrastructure to support the growth. The rapid growth was accomplished with equity from the owner and their bank partner.
Tradecycle was introduced to the company by their senior lender who is very supportive and was looking for alternative solutions that could be “bolted onto” their existing relationship without disrupting their credit facilities. Tradecycle’s unique model for processing payments enabled the company to extend their Accounts Payable payment terms for key resin purchases without stressing their vendor relationships.
Within nine days of the company’s application, Tradecycle was able to provide a $500,000 Accounts Payable Processing Program with extended terms. This gives the company the opportunity to draw more working capital into their operating cycle to support sales growth. The company is projected to triple sales in 2022 and Tradecycle has become an integral partner with the company and their senior lender.