Private Label Provider to Target Stores
A clothing manufacturer who deals exclusively with Target Stores.
The client received a sudden increase in demand for its products and needed to place an order with its suppliers. Its troubled bank refused to advance funds until the goods were shipped, but the client’s suppliers would not manufacture or ship the goods until it received payment.
Express Trade Capital opened letters of credit to our client’s suppliers that were secured by the customer’s purchase orders and account receivables. The letter of credit provided the necessary payment guarantee to have the client’s goods manufactured and gave the suppliers the financial security they demanded. Express then utilized its logistics capabilities to have the goods transported from Indonesia into the United States, customs cleared and distributed as per client’s instructions.