Mount Vernon Unlocks Availability Using FGI’s T.R.U.S.T. and Knowledge
“FGI’s knowledge of the insurance market allowed us to quickly find a solid credit insurance solution to satisfy both the needs of our business and our lender allowing us to continue our growth in Mexico.”
Mount Vernon Mills is a textile company based in Mauldin, SC. They are a major producer of denim, uniform and work wear fabrics, chemicals and other miscellaneous textile materials for the apparel, industrial, institutional, and commercial markets.
Often large end clothing and uniform brands require Mt. Vernon to sell their product directly to the foreign sub-contractors manufacturing their garments. This created a large receivable concentration with a foreign cutting and sewing garment manufacturer. Due to their bank’s credit requirements, without credit insurance Mt. Vernon would lose critical availability having a concentration cap implemented on this foreign customer.
FGI found a carrier able to provide a simple and affordable single debtor policy for the full credit limit allowing the company to access full availability on their receivable to this customer.
