Crossroads Financial is pleased to announce that it has provided a $3 million inventory financing facility for the benefit of retail chain of arts and craft stores.  The retailer, hit hard by the downturn and loss of foot traffic during the winter time, was asked to find an alternative financing solution when the incumbent lender asked the retailer to exit the relationship due to a breach in loan covenants. Crossroads Financial was able provide an Inventory revolving facility to take out the incumbent lender while also providing additional working capital to assist the business in acquiring Inventory to stock the shelves. 

“Crossroads has been pushing a retail Inventory product to serve the needs of business who can’t access traditional sources” commented Lee Haskin, CEO of Crossroads.  “There are very few, if any, options for retail and e-commerce businesses who do not meet the criteria of a traditional asset based lender.  Crossroads strives to be a resource for any wholesaler, manufacturer, or retailer who needs Inventory Financing or Purchase Order Financing.”

Since 2004, Crossroads Financial has funded almost $100 million to clients, facilitating approximately $1.0 billion in receivable funding, and has become the partner of choice for marketing- leading factors and receivables lenders.