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NewStar Business Credit Provides $6MM Facility to RTA Funiture Distributors

January 22, 2015, 07:36 AM
Filed Under: Retail

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced it has provided a $6 million revolving credit facility to RTA Furniture Distributors, Inc., a leading value-priced retailer of furniture and cabinetry. Headquartered in Harrisburg, PA, the company serves the mid-Atlantic region through 18 retail stores operated under the trade name - Just Cabinets Furniture & More (“Just Cabinets”).  The credit facility was used to refinance existing debt and is available to support ongoing working capital needs and future growth.

Ted Bernstein, president of Just Cabinets commented on the transaction: "We look forward to our relationship with NewStar Business Credit as our asset-based lending partner. The quality of diligence, understanding and professionalism exhibited by the NewStar team during our selection and approval process bodes well for a great business relationship to come.”

“We are pleased to support Just Cabinet’s ongoing financing needs as we continue to expand our presence in the mid-Atlantic region,” stated Milton Iskra, National Marketing Manager for NewStar Business Credit.

John Rossi, a senior vice president located in NewStar’s Boston office, originated the transaction.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $25 million.  Deal structures are flexible and tailored to meet each client’s unique needs.  Funds can be used for a wide range of purposes, including strategic acquisitions, management buyouts, recapitalization and refinancing, as well as, to support internal growth strategies.

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