PayCargo Capital, a sister company of the global online payment platform PayCargo, is offering businesses in the fresh produce supply chain credit of $50,000 to $2.5m for a 15 to 45-day period.
Under the facility, PayCargo Capital pays all freight charges up front, reclaiming the appropriate funds electronically from the PayCargo customer in the agreed timeframe.
“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, Chief Executive Officer of PayCargo Capital.
More than 2,500 transportation-related Vendors in North America accept payments via PayCargo’s online portal.
