LSQ Creates EXIM-backed SCF Program for Specialty Energy Firm

ORLANDO, Fla., May 9, 2024 /PRNewswire/ -- LSQ, a leading provider of working capital and payments management solutions, recently announced the creation of a $25 million supply chain finance (SCF) program with a large Kentucky-based specialty energy company serving the metals manufacturing industry globally.

The new SCF program allows the company to provide third-party-funded early-payment opportunities to their suppliers while standardizing payment terms to create working capital for the entire supply chain.

"We are seeing more and more emphasis put on working capital management - especially among exporters," said Miguel Serricchio, Chief Channel Development Office at LSQ. "A supply chain finance program is a great way to free up liquidity for both buyers and suppliers and we are eager to help drive growth for our new client."

EXIM Supply Chain Finance Guarantee

The new facility for the energy firm is backed by the Export-Import Bank of the United States (EXIM) as part of their Supply Chain Finance Guarantee Program. The program incentivizes lenders to fund SCF programs by reducing risk, increasing availability, and lowering costs by providing a 90-percent guarantee to lenders who fund supply chain finance programs for U.S. exporters.

"EXIM's support was critical in making this SCF facility possible," said Serricchio. "By providing the guarantee, they are leveling the playing field for U.S. exporters as they look to compete in global markets and, by extension, supporting American jobs."

Building on an Existing Relationship

The new facility is not the energy firm's first engagement with LSQ: they have been a long-time supplier participating in U.S. Steel's EXIM-backed SCF program.

"We are excited every time we get the opportunity to work with a new company," said LSQ Senior Vice President Lori Sternola. "This relationship is doubly rewarding since it's based on an existing relationship and LSQ's ability to provide exemplary service and working capital to our SCF suppliers. It's a testament to our customer success and product teams and the work they do to support our buyers and suppliers."

About LSQ | lsq.com
LSQ is a market leader and pioneer in working capital finance and payments solutions. For nearly 30 years, LSQ has leveraged innovative technology, credit and risk expertise, and proprietary data that empowers thousands of businesses to optimize their working capital, automate and accelerate payments, manage collections, and mitigate risk. Every year, we accelerate billions of dollars in payments to businesses and their suppliers through our LSQ FastTrack platform to help them obtain the funds they need to grow and thrive. LSQ is headquartered in Orlando, Florida. Learn more at www.lsq.com.

SOURCE LSQ Funding

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED