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Veritas Financial Provides $13MM Term Loan to Nylon Products Manufacturer

July 18, 2013, 07:24 AM
Filed Under: Manufacturing

Veritas Financial Partners provided a $13 million funding solution in connection with a broader refinancing of a nylon products manufacturer's current revolving credit line. The total transaction was $43 million, of which Veritas provided a $13 million senior secured term loan collateralized by machinery and equipment as well as Canadian-based real estate. The facility will be utilized for ongoing working capital needs and repayment of existing debt.

Founded in 1979, the company's polymer products include compound nylons, film grade nylons, wire and cable polymers and carpet fibers. The company has been experiencing steady growth for over twenty years through acquisitions and contracts with key suppliers.

Veritas Financial Partners is a national financial services firm that provides senior secured credit facilities to small and medium-sized businesses. Veritas provides financing across a variety of industries and forms of collateral, including accounts receivable, inventory, equipment, and other fixed assets, as well as owner occupied commercial real estate. Commitments range from $1 million  to $25 million, and often involve facilities that blend various forms of collateral, providing the client with a single financing solution.

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