12/7/2021
This November, we announced that we funded three new revolving Accounts Payable funding facilities. The first deal was a $2,000,000 limit to a private equity owned specialty merchandising company who needed additional support for sourcing product offshore. The second deal included a $500,000 limit is for a precision welder and fabricator of exotic metals, which was referred to Tradecycle by their senior lender. The third new relationship was a management owned distributor of Specialty Bar Quality Steel, which needed to accelerate payments to global suppliers. All three programs are unsecured and supplemental to their senior lending facilities.