Plus Funding Group Completes a $500,000 Financing For A Plastics Color Manufacturer
Plus Funding Group (PFG), a New York-based specialty finance firm, has closed on a financing to a Tri-State area company that specializes in transforming raw plastics into custom color pellets for manufacturing. Proceeds will be used for working capital expansion, and to pay off some old accounts payable.
Robert Blum, Chairman of Plus Funding Group, stated that “This deal had been declined by the referring source because it did not fit a ‘tight strike zone’, and they knew we have a reputation of taking a hard look to find value if structured properly, where others would just decline. We saw an old company with a rich library of specialized colors and a quality reputation, but which had recently fallen on bad times due to management issues. The buyer has great experience and contacts in the industry and has proven in a short time the ability to gain the faith of a great customer set. So we figured out a way to structure a deal that would work, and signed on”.
About Plus Funding Group:
Headquartered in White Plains, NY, PFG is engaged in the commercial factoring business. The company offers accounts receivable financing, purchase order, production financing (work in progress) and lines of credit to its clients. The company generates revenues and earnings primarily through the purchase and collection of receivables.
Contact regarding this transaction: Frank Mancini, Senior Vice President, Plus Funding Group, 360 Hamilton Ave., Suite 1110 White Plains, NY 10601 Direct: (646) 558-6444, Toll Free: (855) 796-7578, Fax:(347) 338-2474, firstname.lastname@example.org