5/22/20 - Zurc Capital has completed the funding of a $750,000 million receivables and inventory finance facility for a U.S. subsidiary of a Canadian-based seafood processor and exporter.
The client, an importer and wholesaler of fresh and frozen Pacific salmon has received a tailored, comprehensive A/R and inventory (frozen, packaged fish) finance revolving facility, featuring non-recourse factoring and supply chain financing. The client intends to use the facility to support its financial independence from its parent company, and fuel its growth with both new and existing customers in the United States and Canada.
The recently-established subsidiary was experiencing exponential year-over-year growth when it sought out Zurc Capital to help accommodate its rapidly increasing orders. As a seafood wholesaler selling to a diversified group of retailers and distributors on an ongoing and seasonal basis, the client required improved cash flow to continue its growth trajectory.
Zurc Capital's trade finance facility provides a steady replenishment of working capital, which puts the client in a position to maximize growth.