Concord Financial Advisors announced the closing of $7.545 million of senior secured credit facilities for a leading radio frequency technology company in Wheeling, IL. The company,  NetCom, has been in business for more than 40 years but found that it was no longer a fit for its bank's definition of a target customer.

The company had been seeking a new banking relationship on its own, but was not satisfied with the progress it was making. After being introduced to the company, Concord quickly determined that the company's core business was solid and would be an attractive "relationship client" for many financial institutions.

 "Working with Concord Financial Advisors, LLC allowed us to not only meet several lenders whom we did not know, but also allowed us to run our business while Concord found us 'the right lending partner' who understood our business and met all of our refinancing objectives. Concord saved us a lot of valuable time and they negotiated a very favorable transaction for us too. We are very pleased with our new lender and with Concord's results," said Donald Arrington, Controller at Netcom, Inc.

Concord quickly identified the most appropriate senior lenders for the company and prepared a detailed memorandum summarizing the key aspects of the company, coupled with setting up a data room with all pertinent information for select lenders. Concord procured multiple competitive proposals for the transaction. The company was able to achieve its objective of obtaining an attractive financing structure with a local bank that can support its senior debt needs, including a revolving credit facility, a term loan, and a real estate mortgage. The company's owner and management team were impressed with the resulting financing structure and the attractive economics of the transaction.