King Trade Capital provides $5m import finance facility
King Trade Capital (“KTC”) is pleased to welcome back a client from 12 years ago by providing a $5m import finance facility with an accordion feature to expand to $10m.
The owner/founder of a very successful food products company reached out to King Trade Capital founder, Edward King, to discuss the happy yet surprising doubling of their sales in 2021.
The two founders met over 12 years ago when the client’s bank introduced him to the King Trade Capital team because he needed help financing the company’s imports when he had a business challenge that affected the company’s balance sheet.
Due to the success of his previous financing, the client had a great deal of trust in KTC, who helped when others wouldn’t or couldn’t. The client called KTC when orders and projections from retailers started coming in significantly higher than initially indicated (one big box retailer came in 12 times higher.) KTC, being confident in the client’s capability, very quickly reestablished a finance facility, alongside the client’s bank asset-based lending relationship, to allow the client to grow its sales significantly with Target, Costco, Sam’s and others.
Edward King, founder and managing partner of King Trade Capital said, “It is very flattering when past clients contact us to provide new PO finance solutions, especially when their businesses have grown significantly and are well financed.”
