Solid Line Products Secures a New Multi-year Credit Facility
SAN FRANCISCO, Jan. 28, 2013 /PRNewswire-iReach/ -- To support the company's growth strategy and provide financial flexibility, Solid Line Products has secured a new multi-year credit facility through GR Industrial Corporation ("GRI"). The facility provides a line of credit up to $1.5 million over the next two years.
"As we continue to execute against our established business plan, this line of credit provides an additional source of liquidity for our working capital requirements," said Henry Lo, Chief Executive Officer at Solid Line Products. "We appreciate the confidence GRI demonstrated in our award-winning branded portfolio of products and believe that this initial credit facility will serve as a solid foundation to grow from for additional working capital requirements as we achieve expected future growth."
Borrowings against the facility are based on inventory and purchase orders, making the facility scalable. This structure allows the company to obtain liquidity at all stages of the sales cycle - from order, to inventory and receivables.
About Solid Line Products:
Headquartered in San Francisco, California, Solid Line Products is a customization platform for tablets, e-Readers and smart phones. Our vision is to enable customization and self-expression on the world's most popular devices. We design, manufacture and sell under the brand names Right Shift®, Slide & Type™, FlightCase™ and KekaCase™. Our multi-channel distribution includes a who's who list of customers, including: Army Air Force Exchange (AAFES), Best Buy Canada, Hammacher Schlemmer, Sharper Image, Tiger Direct and leading airport retailers.
About GR Industrial Corporation:
Based in Hong Kong, GR Industrial is a global trading group, that supplies high-volume, time-sensitive consumer goods. As a supply chain manager across many producers and countries, GRI also provides product design and development, quality assurance and shipping consolidation.
SOURCE Solid Line Products