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NewStar Business Credit Provides $10MM to McCollister’s Transportation Group

November 29, 2012, 08:04 AM

NewStar Business Credit provided $10MM senior secured financing to McCollister's Transportation Group, a privately-owned full service moving and storage company. The credit facilities consisted of a $10 million revolving line of credit, which will be used to meet working capital requirements and provide expansion capital to support growth.

”We are excited to partner with NewStar Financial as we continue to grow our business,” stated H. Daniel McCollister.   “I am confident to recommend their services to anyone looking for a trusted partner to fund their business.   NewStar is a strong asset-based lender and is able to understand what your needs are in a timely manner. They were fast in getting back to us on inquiries and we received outstanding service.   If you are a business owner or entrepreneur looking for financing your business, I recommend you speak with them.   We look forward to a strong relationship with NewStar as our business continues to grow.”

“Companies have individual requirements and our goal was to provide McCollister with a solution tailored to their specific needs,” commented Milton Iskra, EVP and national marketing manager for NewStar Business Credit.   Nina Fairchild, the Senior Vice-President in NewStar’s Philadelphia office, originated the transaction.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $25 million.

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