Personal attention and a commitment to every detail are characteristics of a strong asset based lending partner and team. Creative team thinking, especially when it comes to structuring a borrowing base, can also be critical in helping a business secure the funding they need to prosper.
That personal, creative approach is what Gibraltar Business Capital (GBC) recently delivered to International Wholesale, a family-owned supplier of food and general merchandise to discount stores, supermarkets, convenience stores and other related businesses. After rising above the challenges caused by the pandemic and while readying to set back on a path to growth, the team at International Wholesale approached Gibraltar for flexible financing to bring their growth plans and vision to life.
A one-on-one connection between International Wholesale’s leadership and the decision makers at GBC enabled the GBC team to fully understand the unique demands and opportunities that International Wholesale faced. In response, the Gibraltar team structured a $15MM credit facility with additional flexibility to manage for the dynamic, unique needs of a fast-moving distributor with goods constantly in transit. The credit facility included inventory in transit, as well as licensed inventory, and even factored in flexibility for longer eligibility on advances against accounts receivable.
Gibraltar’s deeply experienced credit team and accessible leadership proved to be particularly important to a family-run business like International Wholesale. The ability of prospective borrowers to quickly gain trust by dealing directly with credit decision makers is a hallmark of GBC’s approach and not common in the commercial lending industry.
“Gibraltar has been supportive of International Wholesale so far in the transition process. Their patience with us as we come up to speed on the requirements has been appreciated,” says Jennifer Moss, International Wholesale CFO. Looking to the future, Ms. Moss also adds, “We look forward to their continued support as we grow our business.”
Interested in learning more? Connect with a member of our sales team to discuss this transaction and your financing needs.
