The Boston Red Sox
ICG’s client created the concept for a Major League Baseball promotion, which joined the Boston Red Sox, the Boston Globe and MLB official pin licensee Peter David in a month-long campaign. To fully implement the promotion, ICG’s client needed to finance the manufacture of the required 2.5 million Red Sox souvenir pins, and 750,000 albums, which were made available to fans at retail outlets that sell the Boston Globe. The window of opportunity for ICG’s client was rapidly closing, but ICG was able to provide a customized financing plan in a very short time frame, and in less than a week, ICG’s client had the required funds within a week. The client is now in the process of securing another promotion with the MLB, which will also be financed by ICG.
The Infomercial With No Inventory or Media Dollars
ICG's client had a successful infomercial that was able to produce revenue, but the client had no working capital to purchase additional media or inventory. As a result, the client had to pull the infomercial off television and was very far behind with its vendors. ICG funded an initial order of $13,000 against a letter of credit posted by one of the client's international customers, then went on to purchase over $450,000 worth of product. Today, the client's outstanding is under $10,000.
The Pharmaceutical With No Working Capital
ICG's client was a manufacturer of over-the-counter vitamins and throat lozenges that built a profitable business with one major customer and several small but consistent customers. The client's major customer decided to bring manufacturing in-house and canceled the contract leaving ICG's client badly extended on accounts payable and with excess raw materials inventory given its resulting sales level. ICG purchased the client's raw materials and resold them to the client over the next six months. The client paid ICG off in full when it received bank financing based on its then profitable operations.
The Serial Entrepreneur With A Good Growth Opportunity
ICG's client was an entrepreneur who owned several businesses and properties including a bowling alley, a retail Web site and a technology company. The client required approximately $325,000 in funds to secure interest in a real estate transaction as well as to pave a parking lot at the bowling alley in advance of the busy summer season. ICG financed his cash needs by purchasing all the assets of the profitable online Web business and the client also posted a letter of credit for approximately $225,000 . The client is presently in the process of closing financing that will take ICG out.
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