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Marquette Business Credit Provides $7.5MM Facility to OttLite

February 15, 2013, 08:05 AM

Marquette Business Credit recently provided OttLite Technologies with a $7 million revolving line of credit and a $500,000 cash flow term loan.

A Prism Capital portfolio company and located in Tampa, FL, OttLite is a premiere designer and marketer of OttLite branded natural daylight products used to enhance lighting for indoor activities.  OttLite targets its products at a diverse range of hobbies and activities that require enhanced visual acuity and color perception including reading, sewing, quilting, painting, scrapbooking, gardening and knitting.

Concord Financial Advisors advised OttLite and Prism Capital on the various aspects of the financing.

“Marquette listened to our unique needs and very quickly structured a financing solution tailored to those needs that helped position us for continued success.” Blaine Crissman, partner at Prism Capital and chairman of OttLite.

Marquette Business Credit provides asset-based loans to middle market U.S. based companies with credit requirements from $1million to-15 million.  On a national basis and to a wide variety of industries, Marquette Business Credit provides secured lines of credit against accounts receivable, inventory, machinery and equipment, real estate, along with cash flow supported term loans and is a part of the Marquette Financial Companies, a multi-billion dollar diversified specialty finance and banking entity which is owned by the Pohlad Companies founded in the 1950’s by Carl R. Pohlad.

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