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Commercial Finance Partners Closes $500,000 Revolver for Oil, Gas Service Provider

May 17, 2021, 08:00 AM
Filed Under: Energy Services

Commercial Finance Partners closed a new $500,000 revolving credit facility for an oil and gas service provider. As part of Commercial Finance Partners new platform to fund both term and revolving credit facilities, the company originally provided a SBA 7(a) $5,000,000 acquisition loan to help the sponsor acquire the business.  Shortly thereafter, the company needed additional funding to support growth and Commercial Finance Partners was able to achieve this by providing a revolving line tied to receivables.

“Expanding our balance sheet programs is a core focus of our growth in 2021” commented John Buanno, Director of Operations.  “By providing dual capital sources and partnering within an SBA structure, we are able to give the client the appropriate structure to not only acquire the business but provide ongoing support for the growth plans.”

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