NEW YORK, JUNE 18, 2019 – Newbridge Global Sourcing (“Newbridge”), a leading specialty finance company focusing on payables funding, recently provided $30 million in supply chain financing to clients throughout North and Latin America, Europe and Asia. Clients included a Florida-based distributor of luxury consumer products, a Latin American snack food manufacturer and a New York-based pharmaceutical distribution company, among others.
Newbridge’s differentiated supply chain finance product allows buyers to benefit from extended payment terms up to 120 days while suppliers benefit from the accelerated collection of receivables. Newbridge purchases 100% of clients’ inventory cost, including raw materials, finished goods and packaging supplies.
Supply chain finance enables businesses to improve cash flow and supplier relationships while managing the complexity and risk of global trade.
“It’s tremendously rewarding to help these growing companies with additional working capital,” said Brian Weiner, CEO of Newbridge. “Buyers and sellers continue to face trade credit challenges with trillions of dollars trapped in outstanding invoices on a given day. We look forward to continuing to help SMEs and large enterprises release corporate cash for reinvestment with our unique funding solutions.”