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Diamond Business Credit Funds Contract Manufacturer

April 27, 2017, 08:00 AM
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Diamond Business Credit announced it recently funded a $300,000 credit facility to a contract manufacturer.
The company was not “bankable” due to losses attributed to a steady run off in volume combined with a lack of expertise in crisis management.  With its competitors in the same boat, a roll-up strategy was a natural.  The Company partnered with a small private equity/management group to tighten cost controls, rebuild the top line and seek acquisitions. They needed a patient, understanding lender to support the turnaround.
Diamond was quick to respond with a facility that included an A/R revolver, a small equipment term loan and a modest PO facility to free up some backlog. The company, in addition to its base of short-run, high margin business, has landed a sizeable order that will accelerate the turnaround.  

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