Frozen Foods Manufacturer
Revolving Credit Line
INCREASED WORKING CAPITAL
The company purchased the assets of a prior manufacturer through a 363 bankruptcy sale utilizing a factoring product. A new management team was brought in with the goal of reestablishing the prior sales base and developing an ethnic line of frozen food offerings. As the new management team gained transaction, sales grew creating greater working capital needs that could not be supported by the factor.
Lighthouse was able to structure an aggressive facility against accounts receivable and inventory that improved upon the existing structure thus increasing working capital availability to support sales growth as the company continues to gain momentum after the 363 bankruptcy sale.