HVAC INSTALLATION AND SERVICE PROVIDOR: $300,000 FACILITY FOR MANAGEMENT BUY-OUT
The manager of a HVAC installation and service company approached us with a plan to buy the company from the existing owner. We were able to structure a $300,000 three year term loan that provided 100% of the purchase price while allowing the manager to obtain a 100% ownership interest. The manager operated the business so successfully that he was able to repay the loan in one year.
WHOLESALE FOOD DISTRIBUTOR: $400,000 SEASONAL WORKING CAPITAL FACILITY
We have a client that distributes hors d'oeuvres to retail stores. The business is highly seasonal, with 70% of the sales occurring during the holiday season. Every year we provide this client with a 90 day term loan which allows the company to purchase ingredients, manufacture, and distribute the product. This company has been a client for each of the last three years. As business has increased, the amount of our loan has increased each year.
WEB BASED ADVERTISING PORTAL: $650,000 JUNIOR SECURED TERM LOAN
Our client operates a web portal and derives its income through on line advertising. The company has a $3 million senior secured facility in place with another lender. We initially funded a $400,000 three year term loan for this company. AS the company has grown, we have increased our facility to $650,000, based on the client's cash flow as well as excess collateral outside of the senior lender's borrowing base.