Lighthouse Financial completed a $5,000,000 credit facility for an Atlanta-based wholesale distributor of flooring and related materials serving Alabama, Eastern Tennessee, Florida, Georgia, North Carolina, South Carolina, and parts of Mississippi and Virginia. The company is one of the largest flooring distributors in the United States, with a significant presence in the Southeast.
 
After the initial acquisition by a Kentucky based private equity group and two additional add-ons, the company was burdened with too much overhead leading to operating losses and lender fatigue. As a result, the incumbent lender lowered the existing line of credit creating a working capital strain. Lighthouse structured an aggressive line of credit against accounts receivable and inventory that completely paid out the existing facility and generated significant working capital to support the company as it executes it's internal turnaround plan and seeks additional sales growth.