Hair Care Products Manufacturer
Revolving Credit Line, Term Loan
This New Jersey based company was financed by a commercial finance company that had been acquired by a much larger finance company. As a result, they were no longer a fit for the larger entity and asked to find another alternative. In the meantime, their line was frozen, but their backlog was growing. This created a strain on working capital and cash flow and jeopardized both their customer and vendor relationships.
Lighthouse was able to refinance the line completely and create significant additional working capital by providing a term loan against machinery and equipment and including the collateral of an affiliated company on the borrowing base. The company was able make additional payments to vendors and get back to work.