Marco Announces $4MM ABL Facility for Hayden Products
December 9, 2021
Source: Marco
Miami, FL Dec. 13, 2021 – The end of 2021 is fastly approaching, but that does not seem to phase Miami, FL based Fintech, Marco who announced the closing of an ABL deal, adding to its rapidly growing portfolio. Hayden Products, based in New York City, is a distributor of cosmetics and related products including soaps and dental floss, sold to mass retailers and boutiques in the United States and Canada.
Hayden’s CEO commented, “we chose Marco, from a field of 8 lenders, because they were thoughtful and highly responsive to our needs. They delivered on everything they committed and were quick, experienced and, above all, reasonable. Terrific team and highly recommended.”
The new facility, which includes a Purchase Order line, will allow the client to finance increased volumes, expand distribution channels, conduct marketing, and cover other needs typical of successful fast-growth companies.
Barry Kastner, Marco’s EVP notes “this 100% domestic ABL/PO transaction illustrates the breadth of Marco’s products. We were able to meet our client’s aggressive timeline seamlessly, in connection with a product line acquisition. We are delighted to work with Hayden and its representatives.”
ABOUT MARCO
Marco is on a mission to simplify and accelerate cross-border trade by providing reliable working capital for SMEs in the United States and Latin America. Marco addresses the $350 billion financing gap in Latin America by developing an innovative and proprietary risk model that processes data in real-time to dynamically assess risk and mitigate capital loss. Its factoring approach to trade finance reduces risk and frees up cash, enabling underserved SME exporters to continue operations and invest in growth. Marco has built its very own cutting edge neural networks and utilizes computer vision and AI to enable advanced document understanding and data extraction at scale with the introduction of MarcoScan. This tool allows for seamless collaboration across the entire value chain, helping drive efficiencies, increase revenues, and lower risks. Founded in 2019 by Peter D. Spradling and Jacob Shoihet, Marco is headquartered in Miami, FL, with offices in New York and Montevideo. For more information on how Marco can help power your business with working capital, please visit marcofi.com.
Hayden’s CEO commented, “we chose Marco, from a field of 8 lenders, because they were thoughtful and highly responsive to our needs. They delivered on everything they committed and were quick, experienced and, above all, reasonable. Terrific team and highly recommended.”
The new facility, which includes a Purchase Order line, will allow the client to finance increased volumes, expand distribution channels, conduct marketing, and cover other needs typical of successful fast-growth companies.
Barry Kastner, Marco’s EVP notes “this 100% domestic ABL/PO transaction illustrates the breadth of Marco’s products. We were able to meet our client’s aggressive timeline seamlessly, in connection with a product line acquisition. We are delighted to work with Hayden and its representatives.”
ABOUT MARCO
Marco is on a mission to simplify and accelerate cross-border trade by providing reliable working capital for SMEs in the United States and Latin America. Marco addresses the $350 billion financing gap in Latin America by developing an innovative and proprietary risk model that processes data in real-time to dynamically assess risk and mitigate capital loss. Its factoring approach to trade finance reduces risk and frees up cash, enabling underserved SME exporters to continue operations and invest in growth. Marco has built its very own cutting edge neural networks and utilizes computer vision and AI to enable advanced document understanding and data extraction at scale with the introduction of MarcoScan. This tool allows for seamless collaboration across the entire value chain, helping drive efficiencies, increase revenues, and lower risks. Founded in 2019 by Peter D. Spradling and Jacob Shoihet, Marco is headquartered in Miami, FL, with offices in New York and Montevideo. For more information on how Marco can help power your business with working capital, please visit marcofi.com.
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