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Rosenthal Provides $5 Million Joint Factoring, Inventory and Purchase Order Financing Facility for Major Office Furniture Manufacturer
October 12, 2021
Source: Rosenthal & Rosenthal, Inc.
(NEW YORK) – October 13, 2021– Rosenthal & Rosenthal, Inc., one of the leading factoring, asset based lending and purchase order financing firms in the U.S., today announced the completion of a recent $5 million joint factoring, inventory funding and purchase order financing facility to support the growth capital needs of a Georgia-based manufacturer and distributor of office furniture and products.
Founded in 1991, the family-owned business began receiving sales orders in early 2021 from large, established customers, including technology companies, universities, transportation hubs and municipalities. Each in excess of $1 million, the orders were for a series of new products the company had begun manufacturing in response to the COVID-19 pandemic, including temperature screening stands and devices, desk shields, partitions and air purifiers.
With a large customer base and limited internal resources, the company required additional liquidity to acquire more inventory and ensure they could manufacture and deliver the final products to customers on time. When it became clear that the client required a more robust working capital solution, one of the company’s advisors introduced them to Rosenthal. The ability to pair a purchase order financing facility with a full-non-recourse factoring facility, with an automatic credit approval feature, proved to be a very attractive solution. Rosenthal ultimately provided a total facility of $5 million, with $4 million allocated to receivables and inventory and $1 million toward purchase order funding.
“Rosenthal is pleased to partner with this well-established company and provide the support they need to pursue their growth capital needs, grow new product lines and attract new customers,” said Leigh Lones, Rosenthal Senior Vice President and Southeast Region Sales Manager. “Our ability to provide a creative mix of financing solutions was a win win for the client. With more liquidity, automatic credit approval lines, competitive pricing and a dedicated partner, the client can focus on growing their business strategically.”
ABOUT ROSENTHAL & ROSENTHAL
Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading factoring, asset based lending and purchase order financing firm in the United States. Founded in 1938 by Imre J. Rosenthal, the firm is now led by the second and third generations of the Rosenthal family. As a privately held company, Rosenthal is committed to providing personalized service and flexible lending to clients across a broad range of industries. Rosenthal has offices in New York, California, Georgia and North Carolina.
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