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Article: FAST FINANCING FOR IMPULSE BUYS: ACTRADE REVIVES TRADE ACCEPTANCE DRAFTS; UNSECURED CREDIT, BUT A LOW DEFAULT RATE.
- Article from:
- Crain's New York Business
- Article date:
- February 8, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Eric Sobol can't dawdle when a high-quality block of caviar comes on the market unexpectedly. But the chief executive of Queens-based Caviarteria also doesn't want to throw off his budget by forking over full payment for the morsels.
So Mr. Sobol turns to Actrade International Ltd. for an unusual
financing arrangement that allows him to snap up the delicacies and spread payment over several months.
"Actrade enables us to take advantage of offers that pop up out of thin air without committing my cash flow," says Mr. Sobol, who normally plans and pays for his purchases months in advance.
Caviarteria, the largest domestic importer of ...