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AloStar Business Credit Provides $7.1MM Facility to Southeastern Aluminum Products

January 09, 2013, 07:49 AM

AloStar Business Credit has provided a $5 million revolving credit facility to Southeastern Aluminum Products (SEAP), a leading manufacturer of bath enclosures and shower doors. In addition to the revolving credit facility, AloStar has also provided a $2.1 million real estate term loan.

Headquartered in Jacksonville, FL, SEAP manufactures and distributes both custom and stock enclosures that are made of aluminum, glass as well as brass, pivot and hinge product lines for the bathroom industry. The company has a dynamic range of products ranging from those offered in manufactured housing units to heavy luxury offerings.

“The U.S. bathroom accessory industry is a $1.7 billion industry in which approximately 600 businesses are active,” said Andy McGhee, president of AloStar Business Credit. “As this industry continues to grow, Southeastern Aluminum Products is in a great position to increase its business both domestically and internationally and we look forward to helping them do so.”

AloStar Business Credit provides asset-based lending products nationwide to businesses ranging between $20 million and $300 million in revenue and with financing needs ranging between $5 million and $20 million.

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