New York, NY – March 28, 2017 – Coral Capital Solutions (“Coral Capital”), an innovative provider of financing solutions for North American medium sized enterprises was recently approached by a leading Connecticut-based manufacturer and importer of canvas wall art to bring more liquidity to its fast-growing business while maintaining the company’s financial relations with its bank.
The company is a recognized leader in its category, providing outstanding wall décor products to a wide variety of retail partners that are produced using the latest technologies offering collections from over 1,000 artists. After realizing its potential growth for the next couple of years, the company reached out to Coral Capital as a trusted resource to secure an accounts receivable financing facility to support the company’s high demand and increased business. Coral Capital was instrumental in successfully replacing a portion of the company’s bank debt and, structuring the financing, enabling the company to obtain liquidity from multiple sources. The complex transaction was quickly completed with Coral Capital extending an $8.8 million factoring facility to the wall art company.
“With orders for its products accumulating, the wall art company needed a fast solution that would allow their business to grow alongside demand for its décor offerings,” said Jim Bertie, Chief Operating Officer of Coral Capital.
“Having their bank work with Coral Capital as a trusted partner provided the company with a solid solution to fund its accounts receivable with future looking financial covenants, supporting the company’s future business plans. By adding AR financing solution to other forms of financing provided by their bank, the company is now able to position itself toward growth and to meet the increasing demand for their products.”
About Coral Capital Solutions
Coral Capital Solutions provides financing solutions to middle market companies in a wide variety of industries throughout the U.S. and Canada including technology, telecom, food & beverage, new media, manufacturing and other business service companies. It is a leading source of innovative factoring, asset based lending, purchase order and trade finance products. Coral Capital is well capitalized, and has the ability to consummate transactions quickly from commitment to funding.