On July 31, SG Building Blocks Entered Cash Advance Agreement With Cedar, Sold $1.96M Future Receivables For $1.35M, Cedar To Withdraw $49K Weekly From SG Building Blocks Account
Portfolio Pulse from charles@benzinga.com
SG Building Blocks entered into a cash advance agreement with Cedar, selling $1.96 million in future receivables for $1.35 million. Cedar will withdraw $49,000 weekly from SG Building Blocks' account.
August 07, 2024 | 10:13 am
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SG Building Blocks entered a cash advance agreement with Cedar, selling $1.96 million in future receivables for $1.35 million. Cedar will withdraw $49,000 weekly from SG Building Blocks' account.
The cash advance agreement provides immediate liquidity to SG Building Blocks but at a cost, as they are selling future receivables at a discount. This could be seen as a neutral move in the short term, providing necessary funds but also indicating potential cash flow issues.
CONFIDENCE 90
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