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US Capital Partners Provides $750,000 to Icelandirect

September 04, 2013, 11:04 AM
Filed Under: Specialty Industries

US Capital Partners provided a $750,000 scalable accounts receivable and inventory line of credit for Icelandirect, Inc. headquartered in New York City.

“Our business has been expanding quickly, both in terms of the range of high-quality, branded products we are distributing as well as the reach of our products across the United States,” said Mark H. Stenberg, CEO at Icelandirect. “We approached US Capital Partners for financing to increase our inventory levels and support our growing working capital needs. We are extremely pleased with this new scalable facility.”

“We are delighted to have supported this expanding US importer and distributor,” said Jeffrey Sweeney , CEO and managing director at US Capital Partners. “US Capital Partners has provided a scalable $750,000 line of credit for Icelandirect. This was possible through an objective third-party analysis and evaluation of Icelandirect’s inventory, the historical financial performance of the company, the experience of its management team, the credit of its customers, and the growth potential of the business. Importantly, US Capital Partners was able to design a debt facility that did not require a personal guarantee.”

Icelandirect imports and distributes pharmaceutical-grade omega-3 and other premium fish oils from Iceland for wholesale and retail distribution throughout the United States, with sales primarily to pharmaceutical companies and health product retailers. The company supplies soft-gel caplets and joint creams as finished products, as well as drums of high-quality, 100% natural fish oil.

Since 1998, US Capital Partners has been providing prompt, innovative, and reliable financing solutions including lending, equity financing, and debt re-structuring to businesses across the United States and abroad. US Capital Partners is a private investment bank, direct lender, co-lender, and lead financial arranger that specializes in asset-based debt for small to middle market private and public companies.

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