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CLIENT SPOTLIGHT
 
Men have come along way in the
last few decades, but unfortunately, men’s
underwear has not. The choice men have in underwear
pales in comparison to their female counterparts.
Men’s underwear in the past has been limited to
one major choice, boxers or briefs. And with either
choice, comfort and style have always been limited.
Recognizing a need in the marketplace, /baskit/ has
introduced a hip alternative for modern men who want
comfortable underwear that fits their lifestyles. /baskit/wear
is made from only the highest-quality materials and
construction to offer a comfortable alternative to
traditional briefs.
The company was founded in May of
2002, by Daniel Daley, Kirby Crum and Dominic D’Allesandro,
and has experienced steady growth ever since. The
company’s growth has been especially rapid over
the last six months. /baskit/ products were featured
in the February 2004 fashion issue of GQ
Magazine, and in the new hit TV series Queer
Eye for the Straight Guy. As a result,
popularity of their products has soared and stock
has been selling out fast. This year, the company
expects to double their revenues and could see
exponential growth with the introduction of their
new underwear line which is due out this June.
Currently, /baskit/ products are available at over
120 online and retail outlets worldwide including
Nordstrom and International Male. And this number is
growing each and every day.
By late 2003, due to their
growing popularity, /baskit/ products were selling
out rapidly and keeping up with the influx of new
orders became a growing concern for the company. As
a result, /baskit/ came to Boston Financial
Corporation to secure additional funding to meet the
growing demand for their products. "Boston
Financial Corporation has really helped us move to
the next level," remarks Kirby Crum, Director
of Operations for /baskit/. "By helping to
improve our cash flow, BFC helped us to better
regulate our supply to meet the increase in sales
volume." As a result, /baskit/ is now in a
better position to seize growth opportunities
including adding more national and international
distributors as well as expanding their current
operations.
/baskit/ has been a factoring
client with BFC for over nine months and has been
very pleased with the process and the benefits it
provides. "Boston Financial Corporation has
been extremely helpful and very efficient,"
adds Mr. Crum. "We would not have been able to
sustain such growth without them."
/baskit/ maintains main offices
in downtown Boston and Washington, D.C. along with
regional sales offices in New York City and San
Francisco. For more information, contact /baskit/ at
(877) 227-5822, or visit their website at
http://www.baskitwear.com.
Featured in:
 
PARTNERSHIP CORNER
Factoring Checklist: Do Any of Your Clients
or Associates Fit the Profile?
Factoring is still one of the most effective yet
under-utilized forms of financing around. This is due
to a number of reasons, but the most common is the
perception that factoring is only a financing tool for
troubled companies. This is completely untrue. In fact
accounts receivable factoring is most effective for
companies experiencing steady and controlled growth.
Factoring is effective for a variety of different
types of companies in a variety of different
situations. If any of your clients or associates fit
any of the following criteria, factoring can be an
effective tool for their long-term profitability and
growth.
Long Accounts Receivable Turnover - Many
companies are waiting longer than thirty days to
collect on their invoices. As a result, they are
having trouble meeting current obligations while
losing out on potential growth opportunities due to a
lack of working capital.
Controlled Growth - Other companies have great
products that are in high demand, but lack the
resources to meet that demand and fill their larger
orders. Thus, companies are losing out on increased
revenues due to their lack of financial resources.
Exhausted Resources - Still other companies are
stretched thin after exhausting bank lines of credit
and loans yet need additional capital to maintain
operations and fuel growth.
Un-established Credit - Newer companies
experience problems securing financing due to the fact
that they have not yet established credit in the
industry or shown significant profitability.
FROM THE SALES DESK
BFC Looks to Reel in New Business at the
International Boston Seafood Show
BFC, in an attempt to further
penetrate the seafood marketplace, exhibited at the
2004 International Boston Seafood Show at the Hynes
Convention Center held March 14th through 16th.
"The show was influential in establishing BFC as
a major financial player in the New England Seafood
Market," remarks Kris Limaye, Marketing Manager
at Boston Financial Corporation. "We increased
our awareness ten-fold while bringing in a host of new
leads," adds Marc Kenney, Senior Business
Development Officer.
The event represents one of the
biggest seafood trade shows in the world. And due to
its location, the show had a very local flavor as it
included seafood distributors, packaging companies,
and service firms from all over New England. "Not
only was it great for us from a business standpoint,
but it was also fun to sample seafood products
of all types from all over the world," remarks
Mr. Limaye, "You certainly did not leave this
show hungry."
Seafood companies have been part of
BFC’s portfolio since the company was founded back
in 1988. And this show certainly insured that the
seafood industry will remain a vital component of that
portfolio. The 2005 show will be held March 13th
through 15th, and will be moved to the new Boston
Convention and Exhibition Center. Look for BFC to be
well represented again at the 2005 show.
Other Trade Show Activity
Boston Financial Corporation also
exhibited at the New England Buildings &
Facilities Maintenance Show which was held on April
7th and 8th at the Bayside Expo Center. The show
featured key building management, security, and
maintenance companies from the New England region.
"The NEBF show represents a collection of great
prospects for us," remarked Kris Limaye, BFC’s
Marketing Manager. "We have a number of existing
clients that are from the buildings industry and this
show will only help build on that customer base."
This was the first time BFC has exhibited at the
Buildings and Maintenance show.
BFC
also exhibited at the 2004 New England Sign Expo on
Tuesday April 27th at
the
Holiday Inn in Boxborough, Massachusetts. The sign
show brought together key
representatives
from many large and small sign and sign equipment
companies from
all
over the state of Massachusetts. This is the third
consecutive year that BFC has
exhibited
at this event, which continues to supply new leads and
subsequent new
business
for the company.
AROUND THE OFFICE
BFC’s Marketing Manager backstops Local Hockey
Team against the Boston Bruins Alumni
On April 17th, Kris Limaye, Boston Financial
Corporation’s Marketing Manager, faced the extremely
difficult task of trying to backstop the Asthma
All-Stars as they took on the Boston Bruins Black and
Gold Legends in a charity ice hockey game. The charity
game featured the Asthma All Stars, a team of Boston
area players dedicated to Asthma research against the
Bruins Black and Gold Legends, a team consisting of
ex-bruins greats including Ken Hodge Sr., Don Marcotte,
Ken Linesman, Kenny Hodge, Billy O’Dwyer, and Bob
Sweeney. Kris was one of four goaltenders playing for
the Asthma All-Stars.
The third annual event was held on Saturday, April
17th at Babson College in Wellesley, Massachusetts.
Proceeds from the game, which totaled over $20,000,
went to the American Lung Association of Middlesex
County. The proceeds were used to support pediatric
asthma research and to help send less fortunate
children with asthma to Camp Chestnut, a medically
supervised overnight summer camp.
"It was a fun and worthwhile event,"
remarked Kris Limaye after the game. "I have been
playing goalie since I was 14 and this gave me a
chance to see how I stacked up against ex-NHL players.
It was much faster than I expected, but I felt like I
held my own when called upon." The game featured
lots of scoring and non-stop, end-to-end action. The
final score of the game was 18-12 in favor of the
Black and Gold Legends.
The event was a great time for all those involved.
The Babson rink was packed with fans looking to catch
a glimpse of Bruins stars from yesteryear. The hockey
game consisted of two forty-minute periods. During the
intermission, the Bruins’ Alumni participated in an
open autograph session for all those in attendance.
Following the game a catered reception was held for
the players, their families and friends.
Boston Financial Corporation sponsored Kris with a
generous donation to the American Lung Association.
BFC has strived to always contribute to worthy causes
in surrounding communities. Future charity events with
the Boston Bruin’s Black and Gold Legends team are
scheduled for the fall of 2004 and the spring of 2005.
For information on future events, you can contact Kris
Limaye at 617-286-1050 or send an email to klimaye@bostonfinancialcorp.com.
 
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