King Trade Capital Provides $2.5 Million Purchase Order Facility for Flu Vaccine
King Trade Capital (“KTC”)
KTC’s client has been in business for over 20 years focusing on providing onsite vaccine clinics at their customers facilities. Unfortunately, during the pandemic the company suffered a 74% decline in revenues from pre-covid sales. The Client’s customers range from large auto manufacturers nationwide to nursing home providers requiring specialized procedures and vaccines geared toward the elderly.
King Trade Capital was contacted by the client during the pandemic to investigate financing the supply of Covid19 vaccine and utilizing their network of nurses and vaccine clinic expertise. Unfortunately, due to state-by-state allocation procedures it was not possible for our client to help with Covid vaccinations outside of their home state and the company suffered financially.
In 2022 with factories and offices back to work there has been a significant increase of orders for our clients’ flu clinics. The client contacted KTC again to discuss financing their renewed growth and to provide a finance solution to purchase large quantities of flu vaccine for their many clinics.
King Trade established a responsive cash finance solution that supported the CDC procedures and vaccine allocation practices for flu vaccines. Theses practices give our client only a few days to pay the licensed distributors for available flu vaccine once notified of allocation availability. If the Client does not pay for the allocation, it is sold elsewhere, as the seasonal demand is great, and they must wait to see if another allocation becomes available in time to support their customers. The size of this season’s orders and the financial hardship from the previous year put the company in jeopardy of being unable to support their customers clinics without KTC’s funding support.
KTC quickly understood our clients’ capabilities and their experience delivering flu vaccines to customers and established a unique purchase order finance facility to fund the purchase of the flu vaccine inventory to supply their clinics and allow the company to keep their clinics on schedule starting in September.
King Trade Capital’s financing will help the company add $6 million of profitable sales that they would otherwise be unable to execute upon in 2022 without KTC’s support.
About King Trade Capital
For 30 years, King Trade Capital has helped good companies grow their sales and profits by providing PO and supply chain finance solutions. KTC is operated by its founder and its entrepreneurial team that understands the financial needs of operating and growing a business. As pioneers in purchase-order financing and non-bank trade finance, King Trade Capital has developed the expertise and unrivaled financial capacity to help companies become more prosperous by providing stable and unique PO and supply chain finance solution.