FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Press Releases / Read Press Release

Print

Super G Provides $1.6MM Second Lien Financing to IT Services Provider

May 19, 2016, 07:21 AM
Filed Under: Technology


Super G announced it underwrote and closed a second lien term loan to a leading provider of IT consulting and cloud collaboration solutions within weeks to meet the company’s timing needs. Super G provided a structured solution with a custom repayment schedule in partnership with the Company’s senior ABL lender, CapitalSource.  CapitalSource was a value added partner in terms of their service and speed, working with all parties to ensure timely execution and a successful closing.

The company engaged an investment bank to raise institutional mezzanine capital to finance its next phase of growth. During this process the company had a short-term working capital need to fulfill a backlog of new service contracts and to stay current with existing vendors. The company needed incremental capital beyond its borrowing base since new service contracts require upfront CAPEX before the company can start invoicing and generating accounts receivable.





Week's News



Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.