Capital Business Credit (CBC) announced it has provided Benada Aluminum Products, LLC (Benada) with a $5 million asset-based loan facility.

Benada manufactures aluminum products for the commercial and housing sectors. The company recently emerged from bankruptcy and was looking for a more flexible financing option than its bank was willing to provide.

The CBC asset-based lending team understood  the company’s history and recognized value in  its position in the market. As a result, CBC  was able to underwrite  a $5 million revolving facility  providing advances against Benada’s  accounts receivables, inventory and fixed assets.

“At Capital Business Credit, we have the deep asset-based lending experience it takes to understand that there are a number of factors beyond just financials that make a company a good candidate for a loan. These factors include a company’s management team, business structure and market opportunity,” said Marc Adelson, president and CEO of CBC.

Adelson, added, “With a history of providing facilities to companies in the manufacturing and metals sector, we immediately understood Benada’s story and developed a product that provided them with better terms and ultimately more working capital than their traditional bank partner was willing to provide.”

“It is critical that Benada have access to working capital to operate its business and serve its customers,” said Paul D. Melnuk, chairman and CEO of Benada. “Capital Business Credit’s seasoned executives were able to quickly recognize our needs and develop a facility that would enable us to meet the growing demand we are receiving for our products.”

Established in 1988, Capital Business Credit, LLC is a commercial finance company specializing in providing creative supply chain financing solutions.  The company’s service offerings include: full-service factoring, immediate cash for receivables, single debtor credit coverage; letters of credit, accounts receivable management services; inventory lending, and international financing.  CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S. based importers working with Asia-based suppliers (exporters).  Capital Business Credit is based in New York with offices in Hong Kong, Shanghai; Los Angeles; Charlotte, NC; and Ft. Lauderdale, Fla.