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Lighthouse Provides $5MM Credit Facility to NC-Based Distributor of Plumbing & HVAC Products

July 24, 2020, 08:00 AM
Filed Under: HVAC

Lighthouse Financial Corp. announced the completion of a $5,000,000 Credit Facility for a North Carolina based distributor of high quality plumbing and HVAC products. For more than 100 years, the company's brand has represented innovative commercial and industrial valves and HVAC grilles, registers, and diffusers built with confidence and quality.

The company recently made the strategic decision to exit a low margin line of business resulting in reduced revenue. As a result, the borrowing need under their existing line of credit decreased, thus making their credit facility too small for the incumbent lender. Lighthouse not only structured an aggressive line of credit against accounts receivable and inventory, but arranged a new $2,350,000 Real Estate Term Loan. The total refinance paid out the incumbent lender completely and generated significant working capital to support the company's continued growth efforts.

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