San Francisco, California (PressExposure) May 14, 2013 -- US Capital Partners, LLC has provided an accounts receivable line of credit scalable to $5 million together with a $1 million inventory line of credit for Suki, LLC ("Suki"), doing business as OhMiBod. Suki is the creator of the original iPod vibrator. US Capital Partners is a private investment bank that makes direct debt investments, participates in debt facilities, and arranges equity placements for small to lower middle market companies.
"We are delighted to have secured this timely financing," said Brian Dunham, CEO at Suki. "With sales ready to escalate following TV celebrity endorsements and our home-party business model, we required additional working capital to support our current and future inventory needs. We therefore approached US Capital Partners to place a scalable accounts receivable line of credit and an inventory line of credit."
"Companies with significantly higher inventory than accounts receivable are generally declined by traditional lenders," said Jeffrey Sweeney, CEO and Managing Director at US Capital Partners. "Inventory and accounts receivable lenders will usually advance financing principally on accounts receivable, and only modestly on inventory based on trailing sales, this being an indicator of inventory credit strength for inventory advances. US Capital Partners is one of the very few lenders in the marketplace that can close a deal where the ratio of inventory to accounts receivable is 'upside down.' We are very pleased to have financed this innovative US business."
About Suki, LLC:
Founded in 2006, Suki develops, markets, and sells an innovative range of personal massagers and fully customizable self-pleasure devices. The company is the creator of OhMiBod, the original iPod vibrator, a music-driven pleasure product that allows users to feel the music by connecting to the iPod, iPhone, or any other music player or smartphone. The website for the product includes "Club Vibe," which allows users to anonymously share playlists and experiences. OhMiBod is trademarked by Suki, and is not endorsed by Apple, Inc.
About US Capital Partners, LLC:
Since 1998, US Capital Partners (www.uscapitalpartners.net) has been providing prompt, innovative, and reliable financing solutions including lending, equity financing, and debt re-structuring to businesses across the United States and abroad. US Capital Partners is a private investment bank, direct lender, co-lender, and lead financial arranger that specializes in asset-based debt for small to middle market private and public companies. The company's innovative approach allows it to provide the best financing available, not only for companies in excellent financial condition, but also for companies that may have been refused credit by traditional lenders.
If you would like to know more about how your business can secure the funding it needs, email Jeffrey Sweeney, CEO and Managing Director, at email@example.com or call (415) 889-1010.