Importer and Distributor of Sustainable Tableware Products
$1,200,000 Line of Credit
An importer and distributor of sustainable tableware products made from a byproduct of sugarcane was looking to increase its credit facility to finance growth in the business. Their existing bank was uncomfortable increasing the company’s line of credit even though the company was profitable in 2009 and interim 2010. Sales increased over 60% in 2010 and were projected to increase another 87% for 2011.
First Community Financial approved a $1,200,000 line of credit to support the company’s rapid growth. First Community also increased concentration limits for two large customers that were the major drivers of the company’s growth.
