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Gibraltar Business Capital Announces Three Recent Facilities

July 19, 2013, 07:48 AM

Gibraltar Business Capital (GBC) is pleased to announce the following new credit facilities:

  • GBC recently closed on a $1.25 million asset-based line of credit to an IL-based publisher and distributor of K-12 educational technology software and solutions. This young software company that markets K-12 education purposed tablets and related device software solutions, was formed in late 2012 and has the exclusive right to sell it into schools across the country. The company is experiencing hyper-growth and the GBC facility will help them take advantage of the strong demand and capture new business.

  • GBC recently closed on a $750,000 asset-based line of credit to a NY-based company that specializes in the importation and distribution of Omega-3 and other fish oils for wholesale and retail distribution to the nutritional supplement industry in the US and Canada. The company expects to grow rapidly making use of the GBC facility.

  • Lastly, GBC recently closed on a $500,000 Factoring DIP line of credit to a PA-based manufacturer of custom ceramic-to-metal and glass-to-metal seals.  Industrial heaters and power cables are typical applications for the Company’s products which feature vacuum-tight seals, offering resistance to heat, abrasion, chemicals, oil, grease, moisture, fumes, and more. The company had filed for bankruptcy and obtained a DIP from its incumbent lender, however during the course of the bankruptcy process, the company’s lender went out of business, and GBC stepped in to provide the replacement DIP to support the Company throughout the reorganization and emergence process.

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