CD3, Inc. – Product Design & Manufacturing
Customized Funding Helps Company Succeed By Meeting Working Capital Needs
CD3, Inc. is a leading consumer-products innovator headquartered in Austin, Texas. Co-founded in 1991 by Ron Hunt and Gene Whitehead, two inventors and engineers, and run by Bill Moore, president and CEO, the company has launched successful products, such as Discgear, Perfect Petzzz, and Mary Lou’s Weigh. CD3 continues to grow, but the business is seasonal and products still need to be developed and manufactured during the “off season.” It normally uses lines of credit at times when cash is limited, but its current lending provider could no longer provide funding due to the changes in the financial market. “Small but successful businesses like CD3 are less desirable to traditional lending institutions and the new regulations have forced businesses like ours out of its portfolio,” said Moore.
Finding Both An Efficient & Effective Solution
Having worked in the lending industry and having strong connections within Austin’s financial community, Moore found out about Far West Capital through a former banker. Moore had reservations about funding through Far West Capital because he thought there would be complications with factoring. After talking with the Far West Capital team, the funding options for CD3 were clearer and Moore’s reservations about factoring subsided.
“Much to my surprise, they were direct when it came to running our business and they support our business in a way you do’’t normally find from that type of lender,” said Moore. “It’s been a tremendous benefit to us.”
Moore attributes Far West Capital’s efficiency, flexibility and solid professionalism to the successful relationship with Far West Capital and would recommend Far West Capital to companies that need working capital.
“They actually get in and understand your business and try to find a solution to help your business,” said Moore. “By working off of a borrowing base, it made the management of the credit relationship a lot easier. The flexibility gave us the liquidity we need to run our business.”
“They actually get in and understand your business and try to find a solution to help your business.’
Far West Capital provided a $1 million revolving line to CD3.