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Tradecycle Capital Delivers a New Accounts Payable Finance Facility for an Automotive Machine Parts Supplier
March 4, 2024
Source: Tradecycle Capital
Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded a new $2,500,000 revolving accounts payable funding facility for a private-equity owned automotive machine parts supplier that provides intelligent and cost-effective solutions for complicated engineering design.
The program enables the company to ramp up inventory and support testing to launch new programs.
By extending their accounts payable payment terms without stressing their vendor relationships, all Tradecycle customers draw more working capital into their operating cycles and support sales growth. This enables companies to improve cash flow and add value to all stakeholders involved in the business.
About Tradecycle
Founded in 2016 by Justin Goheen, Tradecycle provides unsecured Accounts Payable Finance solutions that work seamlessly with Senior Credit Facilities to supplement the working capital needs of its clients. The technology driven solution provides an additional tool to assist clients in managing their working capital through extended payment terms.
