Wholesale Lumber Distributor – NC

RESPONSIVENESS-LOAN PARTICIPATION

The company was financed by a local bank and had recently suffered through a couple of tough years due to the recession. However, sales were increasing and profitability had returned. Due to the effect on the balance sheet created by losses during the recession, the bank was unable to increase their existing line of credit.

Lighthouse was able to close the original line of credit in the amount of $2,000,000 in under thirty days. Then sales took off. By the end of the first year of the relationship, Lighthouse had increased the facility to $3,500,000. When the borrowing need reached a level beyond Lighthouse’s internal hold limit, a participant was brought in to support the transaction. Lighthouse was able to secure the participation within one week. The transaction was seamless and the client did not “miss a beat”