Platinum Funding Group Enters Into Factoring and Purchase Order Funding Agreement With Presto Food And Beverage, Inc.
New York, NY (PRWEB) May 15, 2007 -- Platinum Funding Group announced today that is has entered into a factoring and purchase order funding agreement with Presto Food and Beverage, Inc. d/b/a SolMaya Brands ("Presto"), a Maryland-based distributor of soy-based beverages.
Presto signed a two-year factoring facility with Platinum Funding Group. In addition, Platinum entered into tri-party arrangements with key suppliers to further assist in the flow of merchandise to the company and to accelerate the fulfillment of purchase orders.
Einat Steklov, President of Platinum Funding Solutions, LLC, noted that, "Funding of Presto is the latest in a series of accounts receivable financing facilities that Platinum has provided for food and beverage distribution companies in recent months. Food distribution companies need to effectively manage a very fast turnaround of orders, and the expediency and efficiency of the Platinum process makes that possible."
Earlier in 2007, Platinum Funding Group completed factoring facilities for The Kobe Connection, LLC, a quality beef distributor, and Fresh Harvest Products, Inc., an importer and distributor of a wide variety of organic products.
"I want to thank Eyal Levy [Platinum Funding Group Chairman and CEO and his team at Platinum Funding Group," said Edmund Chavez, the referring broker of the deal. "Their fast and creative account management style helped my client reach its financing goals."
About Platinum Funding Group:
Platinum Funding Group, a leading factoring company, provides clients with accounts receivable funding, letters of credit, bridge funding, and accounts receivables management. Established in 1992, the company has been consistently assisting companies with annual sales revenue between $1 million and $150 million. Platinum possesses the financial resources to serve the needs of clients across more than 30 industries. Platinum Funding Group holds a leading position in factoring services, issuing same day advances on accounts receivable to start-ups, fast growing firms, and companies in Chapter 11. Platinum Funding Group is headquartered in New York City and has regional offices throughout the U.S.
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