Gibraltar announced that it secured a $500,000 factoring credit line for a New Jersey-based waste management company. Specializing in the disposal of household hazardous waste, including paint, batteries and glass, the client required quick capital to service new customer contracts but was unhappy with the service, structure and price provided by another factor.

After evaluation, Gibraltar learned that the company had past-due tax obligations, and while they had negotiated a payment plan with the IRS, there was an existing tax lien prohibiting Gibraltar from obtaining its required first lien position.

Turning a roadblock into an opportunity, Gibraltar worked diligently to obtain the proper IRS subordination agreement to effectively refinance and close the facility in approximately 60 days.

Gibraltar Business Capital, LLC is a leading commercial finance company located in Northbrook, IL that provides asset-based loans, merchant cash advances and factoring solutions to businesses with borrowing needs from $100,000 to $5 million.