New Deal Announcement
Crossroads Financial, a leading provider of inventory financing, has recently provided a $1 Million inventory revolver for the benefit of a manufacturer of educational robotic toys.
The company was founded in 2012 and has reached over 35,500 students in 69 countries. The company was equity backed, but had burnt through a lot of their capital on R&D. The company secured a factoring relationship, but were not getting enough availability against inventory. The factor approached 2 other inventory lenders, but both were not interested in providing a facility.
Crossroads came in to provide an inventory revolving line of credit in conjunction with the factor and allowed the company to keep payables current and stay in good standing with their 3rd party, price, pack and ship warehouse.