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Iron Horse Credit Closes $3MM Inventory Line of Credit for a Safety Product Distributor

November 10, 2021, 07:30 AM
Filed Under: Distribution

Iron Horse Credit (“IHC”), closed a $3,000,000 stand-alone inventory revolving line of credit to a leading safety product distributor.

Experiencing exponential growth prior and throughout the ever-changing environment arising from the pandemic, the client was in need of working capital from a lender that could facilitate its rapid growth.  The client was introduced to Iron Horse Credit by a long-standing referral partner who trusted IHC’s ability to execute complex inventory-only facilities.

Run by two entrepreneurs with history in the safety production industry include manufacturing, sales and distribution, the company was well aligned for a record revenue year for upwards of $60MM and later acquired by a public company in early 2021.

Due to the company’s exponential growth, it opted for high interest rate cash flow loans while settling into these new growing pains. Iron Horse Credit was able to replace the current high-interest rate cash flow loans with a more traditional revolving line of credit that will assist the company to grow and provide continual support in its operations.

“It was interesting to get this transaction across the line.  As we all know, there are many companies out there taking opportunistic approaches and unfortunately not every company succeeds,” said Kristen Palmer, Business Development for Iron Horse Credit. ‘20 years of combined management experience in the sourcing and distribution of safety products, coupled with the backing of its public parent company, provided IHC with the comfort needed to help the client continue to supply safety products to various hospitals, hotels, and other large service industry providers. We are happy to participate in the client’s success.”

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