FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


Essex Arranges $500,000 Bridge Financing for Crane Company

September 08, 2016, 07:02 AM
Filed Under: Construction

Essex Capital Group, Inc. successfully arranged a $500,000 bridge loan for one of the largest crane companies in the Midwest.  The financing was put in place in five business days, from initial information exchange to funding.
The new capital was used to bridge a cash crunch created by delays in closing a total company recapitalization.  Essex was contacted to generate a short term liquidity solution and responded with a $500,000 12 month bridge facility that alleviated the company's immediate cash needs.
Robert Swain, President of Essex Capital, commented, "Over the past 13 years that Essex has been raising capital, we have seen numerous situations where unforeseen delays in the process to complete a refinancing can cause financial stress on a company. With this bridge product, we've been able to develop a financing program that can alleviate almost any short term financial crisis. We were pleased to be able to step in and assist this company, solving their short term liquidity issue in only a week."

Essex Capital Group, Inc. is a Tampa, Florida-based corporate finance firm serving small and middle market privately-held companies located throughout the United States. With extensive capital markets experience, Essex provides creative solutions to businesses in need of financial restructuring. Typical advisory services include balance sheet recapitalizations with senior and subordinated debt. Since inception in 2003, Essex has successfully raised in excess of $550 million over 120+ transactions for its corporate finance clients.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.