GemCap announced it finished 2013 with $10.60 million in credit facilities, including:
- $1.5 million term loan against machinery and equipment to a manufacturer of parts for the automobile industry. The facility provided bankruptcy exit financing;
- $300 thousand increase to $1.5 million for a revolver to a high-end jeweler;
- $3.96 million facility comprised of a term loan against equipment and a revolver against accounts receivables and inventory to a manufacturer of hydraulic cylinders;
- $2.5 million increase to $4.0 million for a revolving facility based on inventory to a manufacturer and retailer of specialized outdoor apparel;
- $300 thousand increase in total facility to $7.188 million for a jet engine maintenance, repair and overhaul (MRO) Company;
- $1.6 million increase to $3.99 million for a grower and distributor of Kona coffee;
- $500 thousand increase to $2.5 million for a designer and manufacturer of casual and functional footwear for men, women and children. The facility increase will help the Company expand its current product line and distribution channel.
“We are excited to help our new and existing clients grow and succeed,” said David Ellis, Co-President.
GemCap is an asset-based lender specializing in inventory, equipment and accounts receivable loans from $500,000 to $10 million.