Express Completes $7MM Factoring and $3MM PO Funding Deal for Hong Kong-based Denim Wholesaler.

In September 2022, Express Trade Capital Inc. secured a deal for a Hong Kong-based denim manufacturer who will work directly with top U.S. retailers who previously bought their denim goods through indirect wholesale channels.
 
The prospect reached out to Express to expand their U.S. wholesale presence which would allow them to take advantage of growing interest from top U.S. retailers. Led by AVP Dina Davletshina and VP Drew Cohen, ETC’s team worked directly with the client to develop a uniquely tailored program for their U.S. entity. 
 
To support an expected annual sales revenue of $15MM, ETC created a $7MM factoring facility and a $3MM purchase order funding line. Prior to signing with ETC, the team assisted the client with setting up their U.S. entity and bank account. ETC will also handle the client’s shipping and logistic needs, ensuring goods arrive promptly and POs are fulfilled timely. According to Dina Davletshina, who shepherded the deal to smooth completion: “our team worked hard to overcome several challenges inherent in funding a company that was technically new on paper but had many years of good history overseas. Although this was a non-traditional prospect, their customer base, product line and management team all fit well into our family of clients, so we rolled up our jeans and got creative. Overall, we were able to get the comfort and security we needed to get this deal done right.”
 
ETC specializes in financing companies through factoring, purchase order funding, letters of credit and inventory-based lines of credit. In addition, ETC offers back-end support from logistics to warehousing to credit protection. Since 1993, ETC has helped companies grow, fulfill purchase orders, mitigate risk, and navigate supply chain issues, all while maintaining and enhancing their equity. Our consultative approach leverages our combined 100+ years of experience to ensure clients get maximum support to handle any obstacle.
 
Don’t hesitate to contact us HERE for questions about how Express Trade Capital can help your business.