Industry: Nutraceuticals, Health & Beauty and Sexual Wellness
Situation: The Company started as diet centers conducting a limited amount of business with Groupon and Living Social. The focus is on Nutraceuticals, Health and Beauty, tobacco alternatives and a sexual wellness line. In 2013, the Company leveraged its relationship with Groupon and switched to selling nutritional products. In a short period of time, the Company managed to streamline the manufacturing and sales of the products to Groupon clients. While facilitating larger orders, it also expanded the product categories offered on Groupon website. The company was looking for a quick and flexible Accounts Receivables Financing Service.
The Deal: Coral Capital’s ability to screen, verify, record and fund thousands of invoices instantly was a valuable advantage that helped the Company obtain funding quickly. Coral was able to quickly establish financing to enable the Company to pay its suppliers quickly while increasing its product commitment to Groupon and other customers.
The Result: Accounts receivables financing helped the Company improve its cash flow position and grow the business. Client’s current sales are highly concentrated with one customer.
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