Fishing merchandise company funds a turnaround with a $500K factoring line
AR Funding is proud to welcome this merchandising company for sport fishing as one of its newest clients.
AT A GLANCE
Industry: Wholesale and distribution
Location: Ontario, Canada
Reason for applying: Fund a turnaround
Cash available through factoring: $500K
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PROBLEM: Cash needed for a financial turnaround
This company produces a unique and popular line of fishing baits, and warehouses and distributes them to its clients. But although their baits are loved by fishermen and often sell out, the company has struggled since COVID because of store closures during the first year and continued supply chain issues.
With access to ready cash, the owner knew the company could get back on track and leverage their exciting product line to pursue more retail opportunities.
SOLUTION: $500,000 factoring credit line
The owner was introduced to AR Funding through a friend and decided it was an ideal financing option for the business. Based on the company’s excellent reputation and the creditworthiness of their best customers, we were able to extend a $500,000 factoring facility to the owner.
This happy client received financing with help from Gordon Farr, Executive VP Sales and Marketing. Find out how much cash your company can access through invoice factoring. Talk to us.
