Small Business Focus: Care Bears boost Florida toy importer, but he needs US$10 million right away

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Florida's Basic Fun has seen a sharp pickup in business since coronavirus shutdowns started lifting in May, but the toy importer needs more cash ...

Florida's Basic Fun has seen a sharp pickup in business since coronavirus shutdowns started lifting in May, but the toy importer needs more cash to buy goods for the Christmas shopping season.

Toys are part of the"stay at home culture," Foreman said. In particular, Care Bears, a retro product line of cuddly collectibles first popular in the 1980s, are"selling like crazy," he said, and could mean a strong holiday season.There is one problem, though - Basic Fun needs US$10 million, immediately, to order more bears and other products for the holidays from manufacturers.

He was banking on the U.S. Federal Reserve's mid-sized business lending program to tide over the company. But top banks are shunning the program, and the banks that are involved are mostly serving existing customers, Foreman said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines