Carttronics

“Shopping for financing is a time consuming challenge. But not with FGI. Beginning with our first conversation, they showed us experience and skill, and gave us viable options. Then they delivered results.”

– John French
Founder & CEO, Carttronics

Introduction

Profit margins in the highly competitive retail industry are notoriously thin. Therefore, effective loss prevention and asset management systems are critical components of a profitable retail operation. California based Carttronics has been delivering its market leading cart retention system for over 15 years. They’re now rolling out an innovative new RF network based system that addresses multiple sources of cost and loss, as well as a wide range of business analytics to further boost retail profitability.

Challenge

Carttronics needed growth capital to fund continuing product development and sales expansion into multiple international markets. Traditional lending formulas did not provide for the Company’s growth requirements. And few asset based lenders were experienced at lending against international assets.

Solution

Carttronics decided to seek an asset-based loan facility across national borders and was referred to FGI, a lender with requisite international experience and services. FGI evaluated the Company’s receivables and inventory and closed on a comprehensive funding package.

Using FGI’s sales agency funding structure, Carttronics completed the transaction in an efficient way with limited expense.

Results

This is a textbook growth finance story. Expansion requires investment in technology, personnel, equipment, material, logistics and more. FGI gave Carttronics fresh liquidity that is a key component of the Company’s continuing growth.