Rosenthal Closes Joint Recourse Factoring and Purchase Order Financing Transaction
NEW YORK, JULY 25, 2024– Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending, purchase order financing and inventory financing firm in the United States, today announced the recent completion of a joint recourse factoring and purchase order financing deal.
A global ski equipment and accessories brand with a presence in the U.S., Canada and Europe, and an existing Rosenthal recourse factoring client, was in need of additional liquidity to support seasonal growth. Based on the production forecast for the upcoming 2024-2025 season, the company needed to access additional liquidity to pay their factories as their supplier relationship required prepayments and deposits. Rosenthal provided a $3.25 million purchase order financing facility and an expansion of the recourse factoring facility to a combined $3.5 million, which would now cover both U.S. and Canadian operations. To meet the working capital demands leading up to the company’s peak season, Rosenthal worked in collaboration with the client under a tight deadline for a timely closing that would allow them to take advantage of seasonal sales opportunities.
“Together with the client, we were able to create the right solution to address the liquidity crunch of a growing brand faced with significant seasonal sales opportunities,” said Jennifer Draffkorn, SVP and Portfolio Manager for Purchase Order Financing at Rosenthal. “Our team’s deep experience working with global companies with complex supply chain infrastructures led to a creative solution that provided the seasonal working capital the client needed along with increased support from the existing factoring facility.”
“This one-stop-shop arrangement is a great example of how businesses benefit from comprehensive and complementary financing solutions that give them more confidence to execute operational milestones and growth initiatives,” said Brian Gagel, SVP and Recourse Factoring Portfolio Manager at Rosenthal. “Our experience working with both domestic and Canadian subsidiaries of foreign parent companies positioned us well to increase the U.S. recourse factoring facility and add a factoring facility for the Canadian subsidiary, which allowed the client to pursue its global growth goals.”
For more information about Rosenthal and these transactions, please visit www.rosenthalinc.com and contact Jennifer Draffkorn at 917-507-4854 or JDraffkorn@rosenthalinc.com or Brian Gagel at 404-998-1096 or BGagel@rosenthalinc.com.
ABOUT ROSENTHAL & ROSENTHAL
With over 85+ years of leadership and industry experience, Rosenthal is now led by the third generation of the Rosenthal family. As a privately held company, Rosenthal is committed to providing personalized service, credit protection and flexible lending to small to middle-market clients across a broad range of industries, with loans ranging from $500,000 to $30MM+. With unmatched financial capacity and decades of experience, Rosenthal is best in class for all its clients’ creative financing needs, including factoring (recourse, non-recourse and international), asset-based lending, purchase order financing and inventory financing. Rosenthal’s team of seasoned commercial finance professionals covers the U.S. from coast to coast and nearly everywhere in between, with dedicated offices in New York, California, Georgia, North Carolina, Colorado, and Illinois. Visit the Difference at https://www.rosenthalinc.com.
