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02-21-2024, 10:46 AM #1
- Join Date
- Feb 2022
- Posts
- 27
asset based funding(inventory)
I have a clothing company who has been operating since 1992 in Arizona. They do around 2mil a year. Looking for asset based financing using their inventory. Current inventory list is over 15mil. Owners credit is a 680.
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02-21-2024, 10:54 AM #2
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 732
Asset based lending with only inventory for clothing is tricky. They should have at least one other piece for an asset based Loan. AR/Equipment/ or real estate. Though if they are only doing 2M a year it will be to small for most of our asset based lending programs. More reasonable option would be LOC or factoring/ term loan
bzuniga@omegafund.com
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02-21-2024, 11:12 AM #3
- Join Date
- Oct 2022
- Posts
- 295
What is the inventory? How large is the inventory? What is the AGR? What is the Gross Profit %? What industry?
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
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02-21-2024, 11:23 AM #4
- Join Date
- Feb 2017
- Posts
- 3,463
I agree with Ben @ Omega.
Inventory of 15mm is probably the retail value.
Based on doing 2mm / year, I would assume that the Net Orderly Liquidation Value is probably MUCH MUCH lower, since it includes their old stuff, too. If they sell online B2C, there are a lot of online sellers who do transactions like this, using Amazon/Shopify sales as a basis for their underwriting.
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02-21-2024, 11:37 AM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
If it's a retail company-Cross Roads Capital . If they are B2B-Rosenthal & Rosenthal.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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