NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc. announced today that it has provided a $10.5 million credit facility to a manufacturer of nonlethal tactical munitions and crowd control devices with operations located in the Northeast. The revolving credit facility will be used to support the company’s working capital needs and future growth.

“This transaction represents another great example of how NewStar helps middle market companies nationwide invest in the working capital assets needed to manufacture a wide range of products.  As a lender, we are committed to fueling growth in the manufacturing sector, which is a key driver of employment and remains the backbone of the US economy,” said NewStar EVP, Milton Iskra.

The transaction was originated by John Rossi, a Senior Vice President located in NewStar’s Boston’s office

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $35 million.  Deal structures are flexible and tailored to meet each client’s unique needs.  Funds can be used for a wide range of purposes, including strategic acquisitions, management buyouts, recapitalizations and refinancings, as well as, to support internal growth strategies.