If you’re in the commercial banking business, you know all too well that getting small businesses access to capital is getting harder than ever. Some of this is completely out of bankers’ control. You don’t get to make or break the requirements around who qualifies for a bank loan.
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.