Paycargo Capital offers credit facility
Paycargo Capital, a sister company of the online payment platform Paycargo, is working with businesses in the fresh produce supply chain to provide fast and flexible financing for the movement of perishable cargo. Customers of Paycargo in North America can apply for credit of USD 50,000 to USD 2.5 million for a 15 to 45-day period.
"The use of the Paycargo platform with financing from PayCargo Capital has dramatically helped fresh produce companies, as managing cash flow, paying for daily transportation and related invoices and the immediate release of cargo are critical elements of their business operations,” said Philip Philliou, CEO of Paycargo Capital.
Paycargo Capital’s credit facility is being used by customers from across the supply chain, to pay for ocean, airfreight, cross border freight, warehouse and customs fees and other transportation-related expenses. (mw)