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Lighthouse Provides $4M Credit Facility to SC Manufacturer

March 08, 2017, 08:00 AM
Filed Under: Manufacturing

Lighthouse Financial Corp. announced that it has provided a $4 million revolving line of credit to a South Carolina based designer, manufacturer, and wholesale distributor of bedding, bath, and related home textile products. Founded over 30 years ago, the company has a wholesale distribution channel comprising hundreds of US-based retailers.

The company owns and operates a fulfillment center and manufacturing facility in South Carolina and believes that lead-time-to-ship is critical. By committing significant investment to inventory, technology, and personnel, the company strives to ensure that orders ship quickly, typically within 24 hours of order receipt. 

The credit facility was  designed to refinance an existing line of credit with a commercial bank.  Lighthouse focused on structuring a line against accounts receivable and inventory that followed and supported the seasonal working capital needs of the borrower.  As a result, the facility created a substantial amount of working capital availability at close.
 "We needed to find a new lender, one that would understand the working capital needs of a seasonal business.  Lighthouse was able to structure a line of credit that follows our seasonal cash cycle and gives us the flexibility to build inventory during our slower sales season.  Thank you to the entire team at Lighthouse for really rolling up their sleeves."

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