A Norwegian engineer and his Swiss wife arrived in the U.S. with a couple of patents and the dream of owning their own business. Their best product was a unique plastic item used to heat green commercial buildings, but the timing wasn’t good and sales were poor. However, things began to improve considerably for the company two years ago as large orders from overseas began to come in and domestic sales started picking up. But the overseas orders tied up their working capital for long periods of time, and they didn’t have enough inventory to fill some of their domestic orders.
A local banker introduced them to CFG, and things have really turned around since. By focusing on domestic sales, they have predictable cash flow so they can keep ahead of the orders. Extremely rapid sales growth is expected through this year, and with CFG’s support, they are poised to handle it. Their bank, meanwhile, is continuing to provide ancillary services while monitoring their progress, and one day will take over the line of credit whenever they can.