When Other Lenders Said No, OCf Said Yes
The combination of rising transportation costs, ongoing supply chain issues and continued economic uncertainty have created a perfect storm of cash flow challenges for many distributors. So, it’s not a surprising that many have sought additional credit to meet ongoing business demands and working capital needs. Yet, when a New York-based distributor required additional availability to fulfill orders, traditional lenders offered plenty of hurdles but little to no help. Even after accepting one lender’s proposal, paying the due diligence fee and accommodating a collateral examination, the distributor ended up with nothing more than a declination letter several weeks later.
Not willing to waste any more time or effort with other lenders, the distributor turned to OCF. Our team took the time necessary to work with the client to understand both the cash flow challenges and needs of the organization. By unlocking the value of the company’s existing assets, were able to provide a robust working capital solution that met the company’s needs while providing the financial flexibility and breathing room needed support its ongoing business growth.