Gibraltar Business Capital recently closed three asset-based loans for a variety of organizations to meet their unique business needs.
Gibraltar prides itself on its flexibility and ability to find creative financing solutions in almost any situation. These deals offer more examples of how that’s done.
In just 32 days, Gibraltar closed an $8 million credit facility with an accordion option to increase the facility to $15 million for a sponsor-owned snack foods company selling co-branded and private label products to large retail and wholesale chains.
In Bridgeton, Mo., Buse Holdings LLC, a manufacturer of wire and cable harness assemblies and related products, needed relief from post-acquisition debt service and liquidity constraints. An initial funding under a $4.5 million credit facility from Gibraltar, coupled with fresh equity from the ownership group, are stabilizing vendor relationships and getting production back on track.
Pacific StrucFrame LLC, a California-based manufacturer of wood trusses and frames for the residential construction industry, lacked the funding needed to bolster its growth. Though the company is young, the owner has a track record in the industry and is breaking out at a time when there is a nationwide housing shortage. Their new $1 million line of credit, expandable to $2.5 million via an accordion, will help provide additional working capital flexibility to ensure company growth.