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A growing Electrical Parts Distributor emerging from a period of difficulty needed additional working capital financing. Its current lenders were fatigued and unwilling to increase the Company's credit line resulting in strained relationships with its suppliers. While the Company had over $500,000 in inventory, it did not have computerized inventory records that were accurate.
Creative Financing Solution:
Asset Enhancement Solutions, LLC (AES) arranged financing with a lender willing to advance the Company funds against its inventory, even with incomplete records. AES tripled the Company's total credit facility, and at closing, the Company was able to double its borrowing capacity and significantly reduce the amount of its past due accounts payable.
Neil Seiden, 516-767-0100
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