SouthStar Capital, a private direct lender and specialty finance company, is pleased to announce the closing of a $500,000 Accounts Receivable Financing Facility for a newly established mining supply company.
The company distributes tungsten carbide mining bits to commercial mining operations throughout the United States. Led by an industry professional with experience in mine operations, business development, and supplier relationship management, the business secured its first major purchase order from a leading domestic mining company.
SouthStar structured the facility to support the company’s working capital needs following the delivery and invoicing of its products. With customer payments made on Net 45 terms, the financing will provide access to capital tied up in outstanding receivables.
The $500,000 facility will help the company fulfill growing demand, manage future orders, and build a solid foundation for continued expansion within the mining industry.
SouthStar Capital is a nationwide commercial finance company offering Accounts Receivable Financing, Asset-Based Lending, Purchase Order Financing, Invoice Factoring, Equipment Leasing, Payroll Funding, and Government Contract Financing, delivering tailored solutions to help businesses scale and succeed.
Contact: Becca Ripley
Director of Marketing
SouthStar Capital
Phone: (843) 800-8339
Email: becca@southstar.com
Website: southstar.com