TRUaire has been around for more than three decades. In that time, the company founded by Yongki Yi and Tony Yi has grown from a small vendor of imported grilles and registers for air conditioners to a medium-sized supplier that manufactures its own goods and has 1,500 employees.
Now, the company lands national deals with retail hardware stores. But growth hasn't come without its challenges, and TRUaire's story is one of success achieved with a critical wholesale financing partner: Comerica Bank.
Financing TRUaire's ambitions and factory
Around 2008, TRUaire was growing quickly and wanted to accelerate that scaling up. Yet, after reaching an agreement on a line of credit with a local bank, the offer was rescinded, and the company's financing was dealt a major setback.
That's when Comerica Bank and Cynthia Jordan entered the picture. Immediately, the Comerica Bank team went to work assessing TRUaire's situation and wholesale financing needs to find the best solution, and the two were able to come to terms on a credit line and loan.
That initial deal helped solidify the groundwork for growth, and after a brief hiatus, TRUaire teamed up with Comerica Bank once again to forge even greater growth plans. In addition to an increased credit line, Comerica Bank also lined up real estate financing for TRUaire to build a factory and distribution center.
Through it all, Yongki and Tony have been highly satisfied with their Comerica Bank relationship. That extends not only to the wholesale financing and banking services they've taken advantage of, but also the management support and advice from Comerica Bank that has allowed the organization to grow.
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