Gateway Trade Funding assists Minipresso in growth effort - SNEWS

Gateway Trade Funding assists Minipresso in growth effort

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Los Angeles, CA — As the holiday shopping season hits full stride, consumers with outdoor lovers on their gift list might be tempted to treat them with a Wacaco Minipresso — a lightweight, portable espresso maker that’s ideal for backpackers, campers and travelers.

The increased availability of the Minipresso — distributed in the United States by Nick Thompson at Portable Espresso, LLC — was made possible by a short-term loan program through the outdoor team at Gateway Trade Funding, a financing company working to accelerate growth with businesses in the outdoor industry.

“I’d been buying limited quantities of the Minipresso with a credit card," said Thompson. "With the numbers I was looking at, I needed a more reliable and nimble source of funding to get the manufacturing at a level that kept pace with what was happening at retail. Luckily, Gateway was there."

Thompson enlisted the assistance of Tom Novembrino, executive vice president of Gateway. Novembrino recommended a customized purchase order financing program that provided Thompson with the capital needed to pay for the production and delivery of the Minipresso.

“Companies need to focus on what they do really well,“ said Novembrino. “For Nick, that included his collaborative work with the manufacturer and the marketing and sales of the Minipresso. The purchase order funding program we crafted allowed him to stay within his core business competencies while knowing his production and delivery costs were going to be paid for.”

Ned Post, Gateway’s Business Development Manager for Outdoor Markets, said the financial assistance that PO funding provides can be the key for companies needing to jumpstart growth. 

“PO funding does not come from basing our decision to lend money on a client credit score,” said Post. “Purchase order funding looks very closely at the transaction being financed and who is paying the purchase order when those goods are delivered. Because of that there is no one-size-fits-all solution. It’s really a unique, customizable lending program that works well with the size and kind of companies that make up the guts of the outdoor industry.”

ABOUT GATEWAY: A trusted financial partner with deep roots in the ski, outdoor and action sport markets, Gateway Trade Funding is a rapid financing solution for growing businesses.

Gateway Trade Funding secures the capital required to finalize production and ensure timely delivery, allowing manufacturers to grow, innovate and stay focused on their core business.

The Gateway outdoor team prides itself on taking the time to learn about each client’s distinct business and their requirements, and then developing funding programs to meet their unique needs.

For more information, see www.gatewaytradeoutdoor.com or call 208-720-0695.

For more information on Portable Espresso, including how to find a dealer near you, see www.portableespresso.com.

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