[Kevin Henry-Seacoast]

DF,

Most of you know we are Seacoast Business Funding, a division of Seacoast Bank. We partner with companies in a variety of industries nationally. We offer flexible working capital solutions in the forms of asset based lines of credit and factoring facilities. We are unique in that we are a division of a bank, but can still work with companies facing challenges or in transition. We are usually a lot more flexible and cost effective than most non-bank finance companies and can offer other services to clients non-bank finance companies cannot offer.

The COVID pandemic is re-shaping the economy and the way American shop and entertain. More people are staying home or close to home instead of eating out or traveling on vacations. Companies that manufacture and distribute goods to Staycation companies are seeing very high demand for goods and at the same time their tradition bank is not willing to their increase traditional credit facility to keep pace with demand. Times such as these cause many companies to swap the cheap cost of capital of a tradition bank line for a factoring facility or asset based line of credit that might be more expensive, but provides much more liquidity.

Our idea client:
-Based anywhere in the US.
-Manufacturing and/or distributing goods to large grocery store chains, online retailers, large sporting goods stores, membership stores, etc....
-Revenues from $2Mil to well over $400Mil
-Goods: Anything that is used on a boat or RV. Outdoor grill equipment or accessories. Sporting goods and/or games. Food, beverages, and items used in homes. Home entertainment goods. Simple DYI home repair or upgrade supplies.


Best,

KH

[Kevin Henry-Seacoast]

Anyone notice what's going on post COVID? During COVID the consumer was spending like crazing on goods used in and around the home. Many of these companies experienced hyper-growth and at the same time their supply chain was an utter mess. Some faired very well during COVID and adjusted when the economy started re-opening. Others did well, but did not adjust and are stuck with heavy overhead and inventory. Some have been asked by their banks to seek a new lender which is challenging if they are out of formula in the ABL facility-Inventory heavy.

Meanwhile the consumer spend has now changed. Companies that sell products into the hospitality industry are experiencing very high demand for goods. Many of these companies were devastated during COVID and had their traditional credit facility lowered or completely cut off. These companies are now seeking alternatives......