Diamond Business Credit announced that it recently funded a $200,000 line of credit to a metal fabrication shop. The midwestern company was in the midst of a successful turnaround when its existing working capital lender exited the small deal market.  Diamond quickly committed to an accounts receivable based revolver to replace the existing facility and to provide additional availability to stabilize operations and fund the continued turnaround.  Diamond worked quickly and efficiently with other secured creditors to implement the necessary intercreditor agreements and complete the transaction. 
 
As a result of the funding, the existing working capital lender was paid in full, the other creditors feel comfortable that there is a much-needed working capital lender in place to provide stability, more than 25 employees avoided the hardship of a company shutdown; and the company now has the working capital needed to execute its turnaround plan.