NewStar Business Credit, a subsidiary of NewStar Financial, Inc. announced the launch of a new unitranche loan product called SingleSource. SingleSource combines ABL and cash flow financing approaches to provide a creative and valuable “one-stop” financial solution for the middle market.
SingleSource offers simplicity and flexibility. With a single loan, deal execution is more certain, avoiding the time and cost of intercreditor agreements and the hassle of dealing with multiple parties. Loans can be tailored to meet each borrower’s unique needs and funds can be used for a wide range of purposes, including strategic acquisitions, management buyouts, recapitalizations and dividend recaps.
SingleSource Criteria
Borrower Profile
- Middle-market companies with sales between $50 million and $500 million
- Quality, proven, cash flow and limited customer concentrations
- General Industry focus
Transaction Criteria
- Commitments from $10 million to $30 million
- Growth capital, Acquisition, Refinancing
- US and Canada
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.