Consumer Gift Importer
$750,000 Factoring Facility
A consumer gift importer was seeking a factoring relationship to meet the seasonal needs of the business. The company provides Christmas and Valentine’s Day gift items to the mass market retail channel. In the past, the company was financed by a local bank. As a result of losses incurred in 2009, the company was unable to obtain traditional bank financing for the 2010/2011 holiday season. This company had a previous factoring relationship with First Community Financial and requested our assistance again.
Prior to 2009, the company had a demonstrated history of profitability. Based upon First Community’s knowledge of the seasonal gift industry, previous experience with the company and the integrity of the business owner, First Community provided a $750,000 factoring facility. With First Community’s factoring facility in place, the company was able to meet its Christmas and Valentine’s Day purchase order requirements.
