Camsing Global LLC recently acquired Senator Writing Instruments, the former global leader in supplying promotional products, thanks to the expertise and capital of Prime Commercial Lending. This acquisition was facilitated by the asset based financing division of Prime Commercial Lending, using a $4,000,000 working capital facility. Camsing Global LLC, a multi-dimensional supplier for the promotional products industry, is known for its award winning brands such as Adva-lite, It’s All Greek to Me, Toppers, Noteables and Dart Business Accessories. The acquisition by Camsing Global LLC completes a total management supply chain as Senator represented a significant increase in the sales and marketing of the Camsing product line. Given the difficulty that overseas manufacturing has cause US based companies, Camsing Global’s acquisition of Senator allowes a failing US company to regain its position in US as a leading supplier of promotional products. “This was great, especially in a not so friendly banking environment that we live in today,” said Roglieri CEO of Prime Commercial Lending. “The credit facility that was set up for Camsing resulted in a 75% reduction in the companies cost of funds, the interest rate they must pay on an outstanding loan. We are proud to be able to finance growing US companies, like Camsing, in this tough economy.” The asset based financing by Prime Commercial Lending provides a three-year facility at 1% over the prime interest rate plus a monitoring fee and advanced 85% of eligible accounts receivable with additional provisions against inventory at 50% of finished goods.
Prime Commercial Lending provides $ 4 Million dollar credit facility to promotional product company
by Prime Commercial Lending | Mar 28, 2012 | News