Financial Group

Seafood Industry

This Wyoming based company began operations in 2019 when its parent company

Deal Summary

Product
Factoring Line
Funding Line Amount
$200,000
Company Type
Seafood Distributors
Industry Type
Seafood
Location
US
This Wyoming based company began operations in 2019 when its parent company spun off its Venezuela and Mexico crab meat import business. They sell to seafood distributors and restaurants in the USA.

Challenge

This company is growing rapidly and has started to sell more to local seafood distributors than restaurants during the COVID-19 crisis. The company needed immediate cash flow to accommodate the longer payment cycles of seafood distributors (30-45 day terms).

Solution

The company is profitable and has been growing rapidly. Based on its financial performance and the quality of its customers, ExpoCredit felt confident approving a factoring line of credit. This line of credit will help them expand their business by allowing them to offer longer payment terms to local seafood distributors.
financing for companies