Home / Knowledge / News / Apparel/Garments / Total-Coral enter into receivables factoring agreement
Total-Coral enter into receivables factoring agreement
Nov '09
Total Apparel Group, Inc., a master distributor and licensee of market-leading international trademarks in the branded apparel, footwear and accessories sectors, announced that it has entered into a receivables factoring agreement with Coral Capital Solutions that will expedite the cash flows of the Company and provide collection services, while reducing credit risk.

“Coupled with our recently announced credit facility, this factoring agreement arms us with a powerful tool to accelerate growth,” said TAG CEO Janon Costley. “For those investors not familiar with factoring arrangements, from time to time TAG may sell our receivables to Coral at a moderate discount to the total bill. We can then immediately use the cash advance received from Coral to place more orders with our manufactures. Coral will also assume the credit risk of certain customers and continually monitors the credit worthiness of existing customers through its credit approval process. In addition to these services Coral also facilitates and manages the collection of payments from the customers whose receivables it has purchased from the Company. Extremely well capitalized, Coral has the required funds to support the rapid growth of our business - allowing TAG to focus on adding quality new customers and rapidly processing new orders.”

“We are proud to add TAG to our pool of clients and to partner with them on the U.S. launches of FIFA Collections, official 2010 FIFA World Cup merchandise and the Kappa and Robe Di Kappa brands. Coral brings unparalleled liquidity and capital to allow TAG to fully capitalize on this opportunity, and to achieve its short and long term sales objectives,” stated Coral Capital Solutions CEO Rishi Kumar.

Total Apparel Group Inc

Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search