Marco Closes $11,500,000 ABL/PO Financing Deal for MV Communications Group

Miami-based fintech Marco, fueled by its recent financing round in mid-July, is generating significant growth. Marco’s $11.5MM dollar deal with MV Communications Group (MV), a company based in Doral, Florida, was just the cherry on top of a hugely successful quarter. An international electronics & accessories distributor, MV has clients throughout the U.S. and Latin America, and needed capital for continued growth. The credit line Marco provided is forecasted to expand quickly based on the business foreseen in the short term.

Carlos Gonzalez Veas, MV’s President shared “in our search for lenders, we were looking for a company we could respect and be honest with regarding the future of MV Communications. Marco showed us that they have a high conviction and a strong belief in our company's future success. They showed us that they could provide the company with the flexibility and financial support needed to continue expanding the business. It has been an incredible opportunity to work with Marco, their team has been fast and knowledgeable in all due diligence needed to make this partnership happen.”

Fred Leder, Marco’s Chief Credit Officer and VP of Operations commented, “a Purchase Order Finance Facility with its own separate line, keeps the ABL availability maximized and allows our Client to fulfill customer orders without reducing its other borrowing capabilities. We look forward to serving the needs of MV and being a valued partner supporting their current growth and future needs.”

“We appreciate the opportunity to work with MV Communications Group. When their bank became unresponsive to their needs, and would no longer support their growth, MV sought a lender that could provide the additional working capital needed to continue to fuel the company’s success” added Barry Kastner, Executive Vice President at Marco.

This expanded ABL line, along with a Purchase Order Financing option has enabled Marco clients like MV to provide product for their customers domestically and in Latin America, showcasing the fintech’s expertise in cross-border lending, and fueling its rapid growth across the Americas in less than a year of operation.

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. 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.