LSQ originated a $20 million account receivable credit facility for an Ohio-based aerospace tooling and precision assemblies manufacturer.

The company was referred to LSQ by a wealth management advisor. The additional working capital will be used to pay off an existing line of credit and support manufacturing growth after a change in ownership.

As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.

“The manufacturer is in a great place for explosive growth in their business and the additional working capital and services from this facility gives them the tools to take advantage of the available opportunities,” said LSQ Senior Regional Vice President DJ Krystopa. “We appreciate the faith they put in LSQ as a trusted partner in their success and the confidence the wealth management advisor has in us to support their client,”

“This infusion of working capital will help their business accommodate sales growth, while also providing the necessary back-office operations to help better manage their account receivables,” said LSQ Senior Underwriter Kevin Wright.