Franklin Capital completed a $750,000 factoring facility for a chilled packaging company referred by a bank.

An eco-friendly chilled packaging company needed financing for overhead and to fulfill orders to food delivery companies and stores such as Freshly and Hello Fresh. First, they turned to their local bank, which could not provide them with financing due to the size of the deal and a recent exit from bankruptcy. The bank then introduced them to Franklin Capital following an investment by a venture capital group and board restructuring.

Franklin Capital was able to successfully provide the company with a $750,000 factoring facility.

“I received a call from a CEO of a former borrower from twenty years ago who was looking for a working capital line for a West Coast cold packaging company. After determining it was too small for our current ABL portfolio profile, I referred them to Franklin Capital. I knew three things given our relationship with Franklin. First, they would be very responsive to us and the prospect. Next, they would be solution-driven in their response, and the size profile was a good match. Last, with Franklin’s help, the company had a good chance of growing over the next few years, and both Franklin and the borrower would look to us to be their next financing source. After a matter of a few weeks, Franklin funded the transaction, and they are off and running,” commented the lender at a top tier bank in Chicago.