"Definitely a high point, in my reflection, is how quickly we were able to move."
Matt Sterbenz, 4FRNT Ski Company
4FRNT builds on success with Gateway’s Support
4FRNT Ski Company's sales skyrocketed after David Wise won 3 X Games gold medals and the first Olympic gold in ski superpipe on 4FRNT skis. To meet the increased demand, the company needed a new source of working capital.
Complicating the company’s cash flow requirements were the seasonality of the snowsport business and long production lead times.
Gateway Trade Funding provided 4FRNT a purchase order finance program to bridge the company’s cash flow requirements. This program provides working capital to clients who do not have sufficient working capital to pay for inventory to be manufactured that would fulfill customer purchase orders. Gateway provides letters of credit and other forms of payment assurance to vendors and manufacturers to assure on-time fulfilment of demand for clients’ products.
Gateway Principal Tom Novembrino worked closely with 4FRNT’s founder Matt Sterbenz, so that product was delivered to 4FRNT within five weeks of Tom’s introduction to Matt.
"Definitely a high point, in my reflection, is how quickly we were able to move,” Sterbenz said.
Sterbenz said he was most impressed with Novembrino’s and the Gateway staff’s desire to understand 4FRNT’s business and needs, and provide customized financial products and services to meet these needs.
"To have that personal relationship established gave us confidence and trust,” Sterbenz said. "They wanted us to come out the other end in good shape."