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Evan Platt got a shock sifting through his e-mail on a March morning last year.
President of Bellmore's Ultimate Apparel, Platt discovered the finance company he'd been using for three years was terminating his company's credit line. "They abruptly cut us off," said Platt, explaining that the morning he received the e-mail, Ultimate Apparel, a $3.5 million importer and wholesaler of clothing, was doing just fine.
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Wells Fargo & Co announced it will combine its asset-based lending units as Wells Fargo Capital Finance. The new organization will include the business units of Wachovia Capital Finance, Wells Fargo Business Credit, Wells Fargo Foothill, Wells Fargo Retail Finance, and Wells Fargo Trade Capital. Wells Fargo Capital Finance will provide traditional asset-based lending, specialized senior secured financing, accounts receivable financing and purchase order financing to companies nationwide. Going to market together as Wells Fargo Capital Finance is an important step in their successful integration with Wachovia, said Peter Schwab, head of Wells Fargo Capital Finance.
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ATLANTA -- Apparel companies are exploring purchase order financing as an alternative for obtaining the funds they need to grow their businesses and s...
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ATLANTA -- 'Tis the season for companies to be placing their orders for the things that people will want to buy in December. But are they?
"We are s...
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.... * Purchase order financing can be used by companies that rece...
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These are very exciting times," says Bruce Cohen, president and founder of Westgate Financial Corp. His Hobokenbased firm offers specialized financing, including accountsreceivable factoring and purchase-order financing. "Our volume of activity has doubled in the last nine months," even as traditional financing sources pull back.
A CREDIT CRUNCH that has walloped Wall Street and helped send the stock market tumbling also is making it tougher for many smaller businesses to get traditional bank financing, according to experts, but companies willing to do a bit more work - and perhaps pay a bit more in interest or fees - may still be able to find financing sources. Even when the federal government offers bank loans with guarantees, many banks are hesitant to extend credit, says James Koc...
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...PART 32: CONTRACT FINANCING. Subpart 32.1: Non-Commercial Item Purchase Financ...
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The tight credit environment rages on, and businesses continue to have difficulty securing the inventory financing they need to complete sales transactions. Businesses using overseas manufacturers have added complexities involved with financing goods in-transit. In particular, the global credit crisis has caused many overseas suppliers to limit the amount of open terms they were providing in the past. One way a company can overcome these funding obstacles and fill its sales orders is to work with lenders that specialize in purchase order (PO) financing. The second way a PO finance lender can help mitigate risk is by controlling goods through the entire transaction. An importer uses PO financing to avoid giving up operational and financial control to a private equity source. Both case st...
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The first part of a series on the integration of US small business into the export trade sector using available trade finance tools and resources is presented. The low and relatively flat level of participation by US small businesses in export trade is of great concern to government leaders at the local, state and national levels. Despite all of the rhetoric and complaints by US small business owners that they cannot compete internationally, it is by and large their own failure for not expanding sales into international markets. For every obstacle or limitation cited by US companies, there are one or more solutions available in the form of private and public sector support and resource programs. A number of states, cities and universities provide export assistance for small businesses. ...
... Press,"Congress pushes more export financing for small business," October 2006). Exporters also... with an online presence cannot fulfill orders internationally, citing shipping as the number one... their export sales expansion, accepting purchase orders from international buyers resulting solely ...
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FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 2, 1997--Olympus Ventures Inc. (OTC BB:OVIS) announced Wednesday that they have a letter of commitment fo...