We are excited to have Advance Global Capital as part of the funding pool and look forward to a successful partnership ~ Dan Juliano, Senior Vice President, Business Development & Product, PrimeRevenue, Inc.
(PRWEB) September 04, 2014
Advance Global Capital (AGC), a provider of capital and investment fund advisor is pleased to announce the successful launch of a new Supply Chain Finance initiative. The new facility features Navistar Inc., a leading US manufacturer of commercial vehicles and their supplier of metal components, Inmagusa, a Mexican manufacturer of frame rails. The financing of the Inmagusa-Navistar facility is done in partnership with PrimeRevenue, Inc., a global provider of Supply Chain Finance solutions and leading organization in optimizing and unlocking cash flow for corporations and their suppliers.
Inmagusa is a leading producer of heat-treated and non-heat treated frame rails and structural components for OEM manufacturers and a key supplier of transmission poles for electricity in North America. The company exports its products to eleven assembly plants throughout the USA, Canada and Mexico.
“As more leading organizations adopt Supply Chain Finance, there is a growing interest in inviting non-bank funders to existing and new financing programs in order to provide the required liquidity for corporations and their suppliers. We are excited to have Advance Global Capital as part of the funding pool and look forward to a successful partnership,” said Dan Juliano, Senior Vice President, Business Development & Product, PrimeRevenue, Inc.
“Our investment allows Inmagusa to receive payment of its invoices up front, freeing up its cash flow to purchase raw materials and pay employees,” said Nate Hartley, Portfolio Manager at AGC.
“During the first month, our Advance Trade Growth Fund (ATGF) purchased over $1 Million in Inmagusa’s receivables to Navistar Inc. We are excited to continue this relationship with PrimeRevenue, which enables us to achieve efficient geographic and industry diversification and PrimeRevenue to access an additional source of liquidity. Based on our ongoing success of the Inmagusa-Navistar financing, discussions have already begun to expand the pilot to additional suppliers across the globe,” added Admir Imami, CEO of Advance Global Capital.
About Advance Global Capital
Advance Global Capital (AGC) finances Small and Medium sized Enterprises (SMEs) in emerging markets. Established in 2012, AGC is both a capital provider and an investment fund advisor. The Advance Trade Growth Fund invests in liquid trade receivables that involve emerging market SMEs. Our aim is to bridge the gap between investors seeking an attractive rate of return, and SMEs whose growth is constrained by poor access to capital. AGC works with local and international institutions to provide fairly priced and properly structured financial products to SMEs to support their growth. This leads to new job creation and increases the wealth of local communities — two of the most important factors contributing to economic growth. This ‘double bottom line’ strategy of attractive financial returns coupled with positive social impacts is at the heart of everything we do. For more information, please visit http://www.advanceglobalcap.com
About PrimeRevenue, Inc.
For organizations that view their supply chains as a strategic asset and are seeking to increase supply chain efficiency, PrimeRevenue has the answer. PrimeRevenue provides cash flow to more than 15,000 clients through its OpenSCi suite which offers the control and flexibility required by organizations to optimize their working capital as well as reduce costs and risks throughout the financial supply chain. Headquartered in Atlanta, PrimeRevenue also has offices in London, Paris, Frankfurt, Prague, Melbourne, and Hong Kong. PrimeRevenue operates some of the largest supply chain finance programs for clients around the globe. For more information or to contact us, please visit http://www.primerevenue.com