Cast your mind back a few years to the days when grocery bags were paper or plastic. A client funded by Global Trading Partners had developed a reusable grocery bag for various national chains.
As a result, the company was awarded initial multiple purchase orders totaling $475,000.
The issue, however, was that shipping had to occur within a very tight window and the factory needed deposits ASAP.
Global’s streamlined, no-application process allowed the deal to be underwritten and funded within 1 week.
The 15 containers of bags shipped on time and the rest is history. Portland, parts of San Francisco and coastal North Carolina have a ban on plastic bags in supermarkets and the trend is spreading. It had to start somewhere.