Gibraltar continues a strong season of lending to companies with one common interest: a fresh financing solution. As bank loans remain elusive yet businesses require working capital to evolve, small- and medium-sized companies across the country continue to seek more flexible asset based loans and factoring facilities. Gibraltar's November transactions include:
Personal exercise products: $2.5 million
Gibraltar partnered with this Illinois-based designer and distributor of handheld exercise equipment and accessories to provide crucial, quick-turnaround working capital. Backed by RLJ Credit Opportunity Fund, the company required immediate cash flow to support a significant increase in demand for its personal exercise products. Gibraltar was able to act fast, securing a $2.5 million factoring line of credit for the business in just six business days.
LED lighting: $2 million
Capitalizing on the industry shift to and consumer preference for energy-efficient LED lighting, this Utah-based business needed access to more capital to service a sizeable new customer. Gibraltar efficiently packaged a $2 million factoring line of credit to help the lighting distributor fulfill new orders and position the business for future growth.
Safety inflatables: $1.5 million
The leading U.S. manufacturer of inflatable boats and life rafts, as well as other safety equipment, this South Carolina-based business needed a fresh infusion of capital. After acquisition by OpenGate Capital two years ago, the inflatables manufacturer wanted to replace its factoring facility with a more flexible asset based line of credit. Completing our second transaction with OpenGate this year, Gibraltar established a $1.5 million asset based line of credit comprised of advances against A/R and inventory to support the company’s growing demand.
Supplements & self-help services: $1 million
This California company, owned by Transom Capital, provides nutraceutical supplements and self-help courses to treat anxiety and stress. During the company’s operational turnaround, Transom inquired about a more flexible financial structure to support active management of expected sales growth in 2015. Gibraltar secured a $1 million asset based line of credit to help this consumer products company move on to the next stage of business.
Headquartered in Chicago, Gibraltar Business Capital is a privately held middle-market lender providing small- to medium-sized business owners fresh and accessible capital alternatives to a commercial bank loan. With fast, flexible asset-based lending and factoring solutions, Gibraltar delivers lines of credit and specialized funding that allows business owners to meet their objectives. Building on its 60-year history, Gibraltar Business Capital is a multifaceted company strategically positioned with the portfolio, infrastructure, personnel and resources to support its clients nationwide.