In less than 30 days, Gibraltar Business Capital closed a new $2MM asset-based line of credit for Custom Wood Products (CWP), a producer of fine custom wood cabinetry located in Roanoke, VA. Working with CWP and financial sponsor, Wafra Partners LP, an affiliate of Wafra Investment Advisory Group Inc., Gibraltar Business Capital designed a creative solution that provided greater … Read More
Gibraltar recently helped a growing manufacturing business access $3.5 million in immediate liquidity after the acquirer of its bank reduced funding options. This example showcases how alternative financing continues to successfully meet critical working-capital challenges in the small business arena.
Gibraltar Business Capital’s Scott Winicour discusses the advantages of asset based lending in this article published today on Axial Forum: News & Insights.
The new line of credit will be used to expand operations in the off-season.
Global corporation will use its new GBC line of credit for working capital needs.
“We feel fortunate to have selected a financial partner who understands our vision and strategy, and could help fulfill our capital requirements and allow us to move our business plan forward,” noted Ken Merlau, CEO of OmniVere. “Important in our decision to go with GBC was their keen client focus and responsiveness. It fits our culture,” Merlau added.
This season continues to create exciting opportunities for Gibraltar and businesses in a variety of sectors that need working capital to grow and thrive. One of our most interesting new partnerships was forged with an Oregon-based healthy nut butter manufacturer, which is meeting consumer demand for all-natural alternatives.