New Deal Announcement
Crossroads Financial, a leading provider of inventory financing, has recently provided a $4 Million inventory revolver for the benefit of an Army and Navy Store retailer.
The company was founded in 1951 and currently occupies six retail locations in upstate New York. Sales were high during 2018, but they experienced a significant setback due to some store closings. The sales decline forced the company to file for bankruptcy protection. Crossroads was approached to replace the current secured lender who had been assisting with purchasing inventory and supplying cash flow.
Through an introduction from a Broker, the company will be using the funding to emerge from bankruptcy and acquire new inventory in addition to re-establishing terms with suppliers who supported the company while in bankruptcy.
