CBC Business Credit announced it has provided a $1 million asset-based loan to a rain gutter systems manufacturer. Headquartered in Northern California, this entrepreneurial manufacturer of rain gutter systems has received the Consumer Reports Seal of Approval for two straight years.

Recently, the partners were challenged with needing to pay off their existing lenders and provide for short-term working capital needs, with a significant amount of A/R concentrated to one major client. CBC advanced against accounts receivable and inventory to provide for their short term capital needs, as well as include purchase order financing to facilitate an increase in inventory for the company. The $1 million ABL facility also included a $250,000 inventory sub-facility and $500,000 purchase order sub-facility. The proceeds from the loan provided by CBC will successfully provide the borrower with the working capital needed to grow, flourish and expand their business.

CBC Business Credit provides collateral lending solutions to companies in situations ranging from rapid growth to turnarounds, utilizing receivables, inventory, and fixed assets and provides up to $10 million in credit for growing companies. CBC Business Credit also serves other banks seeking alternative credit facilities for their non-traditional lending clients, without jeopardizing existing relationships.