Veritas Financial Partners successfully closed a $6 million senior secured revolving line of credit for a custom supplier of store fixtures, kiosks and displays.
 
The Company came to Veritas Financial Partners seeking growth working capital and payment guarantees to vendors overseas. During its early years of operation, the Company was able to demonstrate stable growth without adding debt by reinvesting their cash flow back into the business. However, when the Company’s business growth accelerated, it could no longer fund its working capital needs without lender support.
 
Veritas Financial Partners successfully closed a $5 million senior secured revolving line of credit for the Company secured by accounts receivable and inventory. As part of the credit facility, VFP provided a trade letter of credit of up to $4,000,000 which was used to guarantee payment to its Chinese vendors. The Letter of Credit allowed Chinese suppliers to be paid on a COD basis which allowed the Company to secure better prices and lower their cost of goods sold. As the Company grew, Veritas increased its commitment and funded an additional $1,000,000 for a total aggregate credit facility of $6,000,000.
 
Veritas Financial Partners is a leading national financial services firm that provides senior secured credit facilities to small and medium sized businesses. Veritas provides financing across a variety of industries and forms of collateral, including accounts receivable, inventory, equipment, and other fixed assets, as well as owner occupied commercial real estate. Commitments range from $1 – $25 million, and often involve facilities that blend various forms of collateral, providing the client with a single financing solution. The Veritas platform also serves as a world class loan servicer and asset manager for institutional investors such as community and regional banks, insurance companies, family offices, private equity funds and hedge funds interested in participating in Veritas’s secured lending investments.