Summit Financial Resources included inventory financing in their credit line structure
Salt Lake City, Utah (PRWEB) August 09, 2012
Summit Financial Resources recently provided a 30 year-old textiles company with working capital cash. A family-owned business that manufactures, distributes and installs textiles for commercial industries, this company was in turnaround mode and needed expense management as well as improved cash flow. In addition to accounts receivable financing, they also needed inventory financing as a term loan against their inventory. At the time they did not have a perpetual system in place, only a manual inventory accounting system.
Summit was able to design a deal structure that values the company's inventory based on their current inventory tracking system. This structure also includes a generous advance rate, and availability that is based on the company's sales of both product and some installation. The creation of this structure required a clear understanding of the company's financial data, business model, and goals for future expansion.
With Summit's asset based lending type working capital facility and inventory term loan in place, the company is on a solid path for growth and a complete turnaround.
Summit Financial Resources provides working capital cash to small and medium-sized businesses in a broad range of industries.
We provide cash flow financing to companies requiring working capital recovery that cannot be provided by banks or other commercial financing sources. We understand the challenges of business financing in today’s competitive environment, and our ability to be a responsive, flexible financial partner separates us from our competition. Our success is proven by the long-term relationships we build with our clients, which in turn allow them to be successful.