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Rosenthal Closes $7.5MM Revolver with Major Midwest Food Distributor

March 24, 2021, 06:45 AM
Filed Under: Distribution

Rosenthal & Rosenthal completed a $7.5 million revolving credit facility to support the working capital needs of a Midwest-based food distributor serving restaurants up and down the East Coast.
In business for just under 10 years, the company had an existing relationship with a community bank. The bank was facing limitations on its lending given the shrinking credit market and was unable to continue providing the company with sufficient working capital. The company’s Advisor,  Keith Carlson, Shareholder and Managing Director of VonLehman CPA & Advisory Firm, recognized the positive impact that additional working capital would have on the business and introduced the company’s executives to Al Foster, Vice President and Business Development Officer in Rosenthal’s Atlanta office. By leveraging the company’s inventory to support the multi-million dollar revolver facility, Rosenthal was able to provide more working capital than the company’s bank was able to offer.
“Right off the bat, the Rosenthal team rolled up their sleeves and were willing to put in the time and energy to learn about the transaction and spend time with management to understand their needs and come up with a creative solution,” said Carlson. “Rosenthal’s ability to execute quickly and provide a flexible lending solution—especially in the middle of a global pandemic—was key to this successful transaction. It would have been easy to just cut bait and run, but Rosenthal never did that. They kept coming back with what they were willing to do in light of the circumstances. Those are rare attributes in a lender.”
“Without the expert guidance of VonLehman, this transaction might never have happened. By taking the time to learn about and understand the companies we lend to, we’re able to earn their trust,” said Foster. “Rosenthal is family-owned and independent, which means we aren’t limited by red tape and regulations that often prevent other institutions from offering clients the funding they need. On this transaction, our flexible inventory-only structure enhanced the company’s liquidity and will allow them to continue to grow their business.”

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