Concord Financial Advisors, LLC announced the closing of $5.2 million in senior secured credit facilities for a leading commercial subcontractor in the electrical, structural steel and roofing market segments in northeast Ohio.  The company has been in business for more than 80 years and had been with the same bank for more than 40 years.  The company's original bank had gone through several mergers and acquisitions and was now part of a much larger institution.  The company found that it was no longer a fit for the bank's definition of a target customer. 
 
The company had been seeking a new banking relationship on its own but was not satisfied with the progress it was making.  After being introduced to the company, Concord quickly determined that the company's core business was strong, under solid management, and would be an attractive client for any number of financial institutions.

"The professionals at Concord provided a true value-added service to our Company in our search for a new banking partner.  Concord took the time to learn about our business and became extremely adept at helping us tell our story to prospective lenders.  The process was efficient, saving our management team significant time which allowed them to focus on the business.   Concord's knowledge of the market and deep database of debt providers assured us that we were getting the best possible deal the market had to offer," said the company's CEO.
 
Concord created a detailed memorandum featuring the company's strong management team, competitive strengths in its market and highlighted the plan to maintain and grow core profitability and cash flow. Concord drew on its 14 years of experience to identify a number of financial institutions that were comfortable with the subcontracting space, typically a difficult segment in which to lend.   After conducting a targeted search process generated multiple Term Sheets, Concord secured a financing arrangement from Lorain National Bank, a local community bank covering all of northeast Ohio, which met the company's objectives.
 
Middle market companies seeking access to debt capital require a trusted advisor to help them navigate the often convoluted financing process. Concord's clients rely on our broad financial expertise and deep relationships with a wide range of capital providers in offering tailored debt financing solutions that result in significant savings of time and money for our clients. Concord has closed 90% of its retained assignments and more than 140 successful transactions totaling over $1.2 Billion since its inception in 2001.