FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


Pathway Capital Closes $7MM Revolving Credit Facility for New Jersey Logistics Company

February 16, 2021, 08:00 AM
Filed Under: Trucking
Related: Pathway Capital

Pathway Capital closed a $7 million senior secured revolving credit facility to a regional trucking and warehousing company in northern New Jersey. Pathway acted as the sole arranger.

The revolving line of credit is collateralized by accounts receivable and inventory, and is being used by the logistics company to finance its ongoing working capital needs. The facility allowed for an 85% advance rate, an advance on unbilled receivables and a silo that enables the company to extend 120-day terms.

“We have worked with this client for several years on a range of transactions, from $3 million to $75 million,” said Thomas. “We are always pleased when companies come to us time and again to arrange financing efficiently to bridge cash flow needs, reduce debt service or for growth capital.”

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.