Factoring & PO Funding Electrifies High Voltage Sales for 5+ Year Consumer Electronics Client

Positive Current:

The client specializes in creating well-designed and sharply priced electronic products with licenses including the US Army, NASA, Corona, and Head, among others. In 2017, the company had $16MM in annual sales and was looking for a well-priced solution to eliminate the risk of customer payment default. The client also wanted a provider to offer general advice on retail customer credit.

Though well-capitalized, the client understood the benefit of having available cash lines to smooth out any seasonal cash gaps and as a cushion in case they had any hiccups or needed to utilize their capital to take advantage of opportunities that required quick action. Express Trade offered a facility to address the clients’ concerns on all fronts in terms of providing credit protection, expertise, advice, and a factoring advance facility more than sufficient to deliver capital as needed.

Cash Flow & Beyond:

ETC provided a solution that went beyond the numbers: their quick response time and hands-on personal attention earned the clients’ loyalty by demonstrating flexibility, speed, and round-the-clock availability, time and again. ETC worked closely with its credit departments to consistently secure credit approvals for fast incoming transactions and push credit limits higher as the clients’ orders increased. Facilities allowed the client to use their capital to take advantage of closeouts and other business opportunities without disrupting their fulfillment of large growing purchase orders even as they opened substantial new retail customers and expanded doors.

To Bank or Not to Bank:

In 2022, the client was approached by several banks offering similar facilities at aggressive bank rates. Though tempted, the client, ETC worked out even better terms and agreed that mutual values, history, and loyalty were enough to overcome marginally better rates. Sometimes, the premium for more service, speed, flexibility, and personal attention is a small price to pay for an all-around excellent partner. And sometimes, more often than many realize, finance and credit are not all about the numbers. The client now does well over $20MM in annual sales and has spun off its brand of electronic devices, including scooters and bikes. This success is another example of how it pays to go beyond the numbers to deliver consultative, human-first services!