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NewStar Business Credit Provides $5MM Credit Facility to Three J’s Distributing

September 01, 2015, 08:04 AM
Filed Under: Distribution

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced it has provided a $5 million credit facility to Three J’s Distributing, Inc. (“Three J’s” or the “Company”).  Established in 1985, Three J’s is a regional distributor of breads, pastries, chips and coffee. Located in Clackamas, Oregon, the company distributes a wide range of products, including its own brands, to supermarkets, club-stores and other retail outlets across the western United States. The credit facility will be used by Three J’s to support the Company’s working capital needs.

“This was our company's first ever line of credit. NewStar guided us through the entire process. Their team understands that financing is a two-way street and the structure of the loan has to work for both the lender and the borrower. NewStar spent the time necessary to understand every aspect of our business. And, they used that knowledge to structure the deal in a manner that created realistic operating parameters for our business,” commented Lanz Fritz, Three J's CFO.

“Three J’s is a well run company and we are pleased to have the opportunity to support their business objectives,” stated NewStar EVP and National Marketing Manager, Milton Iskra.

The transaction was originated by Lisa Adams, a Senior Vice President located in NewStar’s Portland office.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $35 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, recapitalizations and refinancings, as well as, to support internal growth strategies.

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