FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Lighthouse Provides $5MM Credit Facility to FL-based Importer & Distributor of Seafood

April 27, 2021, 06:44 AM
Filed Under: Food Services

Lighthouse Financial Corp. completed a $5,000,000 credit facility for a Florida-based importer and distributor of premium quality, responsibly-sourced crab meat. For over 25 years, the company has proudly worked to improve oceans and fishing communities with an eye towards sustainability while providing exceptional service to their customer base.
The company was deeply impacted by the effects of the COVID-19 pandemic given that a large portion of their sales were derived from the hospitality and cruise industries. This resulted in a steep revenue decline which lead to a reduced borrowing need under their existing line of credit, thus making their credit facility too small for the incumbent lender. Lighthouse structured an aggressive line of credit against accounts receivable and inventory that completely paid out the existing facility and generated significant working capital to support the company as it expands into new sales channels and waits for a recovery in its core customer base.  

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.