New Deal Announcement
Crossroads Financial, a leading provider of inventory financing, has recently provided a $1.8 Million inventory revolver for the benefit of a shoe retailer.
The company was founded in 1948 and occupies 12 retail locations between the San Jose and San Diego regions of California. They had experienced rapid growth over the last few years and as a result the company was struggling with cash flow issues and had taken on several amortizing merchant cash advance loans. The good news is the company has lots of money tied up in inventory since the stores needed to be continuously stocked. Crossroads was approached to leverage their inventory in order to pay off the high interest merchant cash advance loans and also to pay down supplier payables. Crossroads was able to provide a more traditional revolving line of credit with no amortization and interest only payments.
Crossroads funds will help assist with improving cash flow while providing assistance in keeping vendor payments current.