Skins Inc a developer of patent-pending revolutionary footwear announced today that it has partnered with First Capital, a world class factoring and asset-based lending provider, to manage Skins' accounts receivable and inventory cash flows.
First Capital has agreed to purchase up to 85% of all Skins' accounts receivable and to finance up to 50% of all Skins' inventory. The signed agreement will be effective on January 1, 2007. The new source of funds will enable Skins to continue its aggressive production and marketing efforts toward the upcoming commercial launch of its footwear.
Mark Klein, president and CEO of Skins Inc said, "First Capital is a valuable partner. It has both the professional staff and the financial strength to serve the financial needs of Skins."
Skins Inc created and is continuing to develop an innovative two-part, interchangeable footwear structure consisting of outer collapsible "Skins" and an inner orthopedic holistic support section called the "Bone."
marketing@alchempro.com
