Promising Pest Control Startup Meets Growth Challenges With Invoice Financing

THE CHALLENGE: This young startup developed an amazing new product that could revolutionize the way people manage unwanted pests in their home and office. Hardware stores and commercial facilities from around the country started jamming up the phone lines with orders. With an overstrained budget and no additional financial resources to rely on, there wasn’t enough capital to meet the minimums set by their component suppliers. These orders needed to be filled or the company risked going out of business.

THE SOLUTION: They reached out to a commercial financial consultant for advice, who suggested a factoring company and contacted one of Premier Trade’s sales representative in Dallas. Our team at Premier Trade got right to work, customizing a new credit solution to help them get the capital they needed to meet those pressing orders. A combination of Purchase Order and Invoice Financing was used to fund these first orders.

THE RESULT: Premier Trade sent payments to their component suppliers and the packing manufacturing company. We were also able to fund for excess inventory, enabling them to fill smaller orders. And those orders just kept pouring in! In just 60 days, Premier Trade has closed out 2 successful Purchase Order transactions with 3 more in process.