Growth Lending closes a $2.5m single customer concentration facility for a US manufacturer
Growth Lending has closed a $2.5m, single-customer concentration working capital facility for a manufacturer of baby blankets and swaddling products.
The manufacturing firm, which primarily sells to Amazon.com and has invoice terms of net 60 and net 90 days, will use the working capital to increase production from its overseas suppliers and meet the growing demand for its products.
Keith Kirkland, Senior Vice President of Sales at Growth Lending says: “Our selective invoice finance product is a perfect fit for this type of business, where there is single customer concentration and speed and flexibility are key. We are delighted to be able to support the business as it continues on its growth trajectory.”
Growth Lending, a leading provider of growth and working capital, has a global footprint with offices in Atlanta and Houston in the US, London, Manchester, Bristol, Birmingham and Leeds in the UK, as well as bases in Cape Town and the Philippines. The firm’s selective invoice finance product offers flexible and tailored financing, allowing for customer concentrations, extended terms of up to 120 days, single invoice transactions, multi-currency transactions, and complete flexibility for the borrower to select specific account debtors and invoices for funding.