A domestic apparel design firm realized a substantial increase in their seasonal clothing sales. Unfortunately, they had maximized their lines of credit with their Asset Based Lender and needed Letters of Credit for their various overseas vendors to manufacture the goods.

Not wanting to lose the sales, the firm approached First Exim on using our Purchase Order Funding program to solve their dilemma. First Exim issued the Letters of Credit to the Vendors, whom in turn manufactured and shipped the goods to the Client's warehouse where it was distributed to their customers. The invoices were sent to the ABL for factoring. Advanced funds were used to reimburse First Exim with the Client receiving the balance.

The Client expanded their sales and gained a secondary funding source for future growth in the seasons ahead.