Platinum Funding Group Provides AR Financing to Two Apparel Importers

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Platinum Funding Group announces completion of a factoring facility to two New York City-based growing apparel importers and distributors, T-Shirt Time, Inc. and PEBO, LLC.

Platinum Funding Group announced its funding of two growing apparel importers and distributors, T-Shirt Time, Inc. and PEBO, LLC, both based in New York City. The companies are using the working capital as they team up in order to grow their respective businesses.

T-Shirt Time and PEBO are two early-stage companies that import mens, womens, and childrens apparel from China and Latin America. The two firms are collaborating to optimize the use of their respective resources.

"Working capital provided by Platinum helps the two companies increase the synergy already generated by their cooperation," said Morris Resner, Platinum Funding Group's consultant who brokered the deal. "This funding is an essential component in their plans to significantly grow sales this year."

The T-Shirt Time/PEBO deal is the latest in the number of early-stage funding solutions provided by Platinum Funding Group in recent months. These deals emphasize the important role accounts receivable financing plays in providing working capital for young companies experiencing rapid growth but unable to obtain funding from traditional lenders. Other examples of such deals include food importers The Kobe Connection, LLC and Fresh Harvest Products, Inc.

About Platinum Funding Group:

Platinum Funding Group, a leading factoring company, provides clients with accounts receivable funding, letters of credit, bridge funding, and accounts receivable management. Established in 1992, the company has been consistently assisting businesses with annual sales revenue between $1 million and $150 million. Platinum possesses the financial resources to serve the needs of clients across more than 30 industries. Platinum Funding Group holds a leading position in factoring services, issuing same day advances on accounts receivable to start-ups, fast growing firms, and companies in Chapter 11. Platinum Funding Group is headquartered in New York City and has regional offices throughout the US.

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Anna Belkina