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Gibraltar Business Capital Closes Three Factoring Lines Totaling $4.1 Million

January 23, 2013, 07:49 AM
Filed Under: Factoring

Gibraltar Business Capital announced the following recently closed transactions:

GBC recently closed on three new factoring lines of credit. The first transaction is a $2.5 million factoring line of credit to the largest free circular publication in the US. The current ownership and management team have successfully implemented a turnaround at the NY-based company and were in need of growth capital. GBC refinanced the incumbent lender providing additional liquidity to help support the company's growth initiatives.

The second transaction is a $1 million factoring line of credit to a six-year old manufacturer of high tech products for traffic signal control and intelligent transportation systems. The young company, based in AZ, has experienced rapid growth and was in need of capital to fuel additional growth. GBC’s new facility refinances the incumbent lender providing fresh working capital.

Lastly, GBC closed on a $600,000 factoring line of credit to an OH-based business process outsourcing center. The company had recently been acquired by current ownership and encountered some operating difficulties in the early part of the implementation of the acquisition. GBC’s financing was used to refinance the incumbent bank and provide growth capital now that the operating issues have been addressed.

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