Veritas Financial Partners and Midland American Capital announced the recent funding of a $2.8 million credit facility to a California-based telecommunications services provider.

The company is a wireless solutions provider that offers Network Equipment Manufacturer (“NEM”) and Original Equipment Manufacturer (“OEM”) equipment repair to commercial and government wireless communication networks throughout the United States.  The borrower has recently experienced a period of high growth, is highly reliant on one large customer, and required a flexible financing option to accommodate its working capital needs. 

Veritas Financial Partners and Midland American Capital provided a $2.8 million credit facility collateralized by the company's account receivables. The revolving line of credit was utilized for general working capital needs to continue the company's growth strategy.

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, machinery, equipment and owner occupied commercial real estate.