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NewStar Business Credit Provides $12 Million to Logical Choice Technologies

November 14, 2012, 08:09 AM

NewStar Business Credit provided a $12 million  senior secured financing to Logical Choice Technologyies (LCT).  LCT is a consultant and reseller of technology solutions to school districts for use in school classrooms. The credit facilities consisted of a revolving line of credit, which will be used to meet working capital requirements and provide expansion capital to support growth.

“We are very excited to work with NewStar.  Their progressive thinking and understanding of how our business operates makes them an ideal partner for Logical Choice Technologies.  We look forward to a long and mutually rewarding relationship with the NewStar team,”  said Cynthia B. Kaye, CEO.

“Advances in education are being aided, in many cases, by technology and NewStar is happy to have a role in supporting LCT’s efforts to advance technology that helps improve education,”  stated Milton Iskra, EVP and national marketing manager for NewStar Business Credit.  Steve Brown, anthe senior vice-presidentP in NewStar’s Atlanta 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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