First Capital Introduces Program To Benefit Furniture Importers and Suppliers

Furniture World News

First Capital, a leading commercial financial services firm, announced the official launch of its Trade Payable Discounting program to improve its suite of International SupplyChain Finance solutions. The offering is the third in a series of new international trade solutions First Capital is unveiling this Fall. In October, the firm announced a “Pre-Delivery Guaranty” program and “Export Factoring” as the first and second offerings in the suite. Trade Payable Discounting allows global importers to improve their cash flow and increase their financial leverage by obtaining extended, unsecured payment terms from foreign suppliers instead of using letters of credit or paying cash. Importers also gain from price discounts resulting from early payment under Trade Payable Discounting. Foreign suppliers gain by improving their cash flow via early funding of their invoices. They also benefit from a 100% guarantee of the importer’s creditworthiness. Foreign suppliers can thereby boost their sales by offering the most competitive open account credit terms. “Trade Payable Funding is a win-win proposition for both buyers and suppliers,” says Anthony K. Brown, International Managing Director, First Capital. “Trade Payable funding relieves the financial strain on working capital caused by lengthening supply chains—without affecting existing borrowing relationships. What we are looking to do is to make global trade as seamless as local trade.” “By giving buyers and sellers financing options that benefit both trading partners (and an extra layer of credit protection for suppliers)”said Mark Sunshine, President and COO of First Capital, “we see First Capital’s role as adding value and service in facilitating global commerce.” First Capital is a member of Factors Chain International (FCI), the leading international factoring trade group with 225 members in 63 countries. About First Capital : First Capital (www.FirstCapital.com) is a leading commercial financial services firm providing prompt, professional and reliable working capital solutions and outsourcing, primarily for middle-market companies and institutions. With over $1 billion in total committed lines, First Capital is one of the largest independent and fastest-growing commercial finance companies in the United States. The firm focuses on asset-based lending, accounts receivable management, credit protection, international supply chain financing and servicing for clients in North America and Asia. The firm also manages asset portfolios for clients and is an active issuer of receivables-backed securities. Combining a unique blend of traditional and progressive banking methods, First Capital provides clients with customized support needed to grow and maintain their business. Based out of West Palm Beach, Florida, the firm has six full-service offices in major cities including New York, Los Angeles, Ft. Lauderdale, Oklahoma City and Atlanta and a subsidiary that is headquartered in Hong Kong. For more information contact jitak@firstcapital.com.