Importer of Gift Tea Packages

  • Importer of Gift Tea Packages

    $ 750,000

    Factoring

    New Jersey
    • Client: New Jersey-based importer of gift tea packages with $22 million in annual sales.

    • Situation: The sixty-five-year-old company had historically been self-funded. The importer began to purchase inventory from a new overseas supplier which offered lower prices and higher quality, but could not grant credit terms.

    • Need: The client needed financing to afford upfront payments for orders and shipping costs, and prepare for seasonal peaks.

    • Solution: Prestige provided a $750,000 factoring line which allowed the client to pay suppliers upon receipt of product, and has increased profitability and sales volume.