NEW YORK, Sept 12, 2011 /PRNewswire/ -- Recognizing the struggle in the U.S. manufacturing sector in recent years and its vital role in jump-starting the economy, Capital Business Credit (CBC) (www.capitalbusinesscredit.com), has developed a program where they will lend up to $500 million to small and medium sized U.S.-based manufacturers, as well as other U.S.-based businesses.
The United States relies on manufacturing to support its economy, workforce and to remain an economic powerhouse. Today, manufacturing accounts for 11 percent of the GDP and contributes to 13.5 percent of private sector jobs. However, the current lending environment is severely limiting manufacturers' access to capital and credit.
Recognizing this need, and with a long history of both domestic and international supply chain financing, CBC will lend up to $500 million to small and medium sized U.S.-based businesses. CBC will provide financial facilities ranging from $1 million to $20 million. The Company's asset-based lending and factoring solutions aid growth, turnarounds and day-to-day business efforts.
"Businesses are coming to us, wanting to hire, buy new equipment and ultimately expand their companies, but they aren't receiving the financial support from their banks to execute," said Marc Adelson. "Capital Business Credit recognizes this as an opportunity to support businesses that want to buy, build and hire in the U.S."
With more than 30 years of experience providing financial solutions to manufacturers of consumer products both in the U.S. as well as internationally, the Company has deep lending experience, providing the credit needed to help businesses grow.
Adelson continued, "With an experienced asset-based lending and factoring team, Capital Business Credit can look beyond a company's balance sheet and evaluate a company's business model, management team and its potential for growth to determine the right financial product to meet their needs."
The program will support companies that manufacture durable goods like food products, paper and textiles, apparel, accessories and home furnishings, and non-durable goods like machinery, electrical equipment and automobiles, as well as green technologies.
About Capital Business Credit
Established in 1988, Capital Business Credit LLC (www.capitalbusinesscredit.com) is a global integrated financial products and services company. The Company's service offerings include: full-service factoring; accounts receivable management services; inventory lending; asset-based lending; and international financing. CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S.-based importers working with Asia-based suppliers (exporters). Capital Business Credit is based in New York, with offices in Hong Kong; Shanghai, Los Angeles; Charlotte, NC; and Ft. Lauderdale, Fla.
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SOURCE Capital Business Credit LLC