In a first of two capital placements, Huntington Coast Capital secured a $570,000 SBA 7A loan for a electronics distributor in Chicago, IL.
The company was in dire need of additional capital to meet it’s growing demand. They needed capital to purchase the inventory they then sold on their online platform. Because the company sold at point of sale through the website, they were not a fit for traditional accounts receivable financing.
The company specializes in refurbished tablet computers – mainly iPad and Samsung units. In this business, it is necessary to have the inventory on hand to be able to fulfill customer orders in a timely manner. The newly acquired line of credit will allow them to do just that.
As a second step, HCC is now working with them on a supply chain funding facility for an additional $500,000 to work in conjunction with the existing financing. With a total purchasing power of $1,000,000, the company would be able to grow exponentially.
If your business could benefit from additional capital, we would like to speak with you.
To your success!
Patrick Zazueta | Founder
Huntington Coast Capital, Inc.