ExpoCredit had confidence in the company and approved a factoring line for USD 500,000.
Funding Line Amount
Our client imports and distributes technological products such as audio and video equipment, computers, video games, cellphones, and other consumer electronics. The relatively new company has stood out for its quality and warranty of its products in the market, and is currently distributed by companies such as Claro and Falabella.
During the last year, the company experienced accelerated growth allowing them to attract new and potential clients. However, since clients have an average of 60 days to pay their invoices, the company was faced with liquidity problems. Their suppliers are asking them to pay on time in order to comply with purchase orders, and they have been forced to decline new clients due to the need for working capital.
ExpoCredit understands the importance of the technology goods provided by this client. Although it is new, the company generated significant sales and acquired new and important customers in 2020. ExpoCredit had confidence in the company and approved a factoring line for USD 500,000 so that this distributor can generate more sales and increase its liquidity. Furthermore, the company will be able to accept more opportunities with key clients and meet their projections for this year.
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