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Lawrence Financial Group Completes $40MM in Fundings for the First Quarter of 2021

May 26, 2021, 08:00 AM

Lawrence Financial Group completed $40 million in fundings for the first quarter of 2021.

Highlights for the First Quarter:

  • $10 Million funded for school bus wholesaler. A Chicago-based PE fund was seeking a flooring line for its investment in school buses. The existing lender was concerned about the effect the pandemic had on the business.  Lawrence was able to find a new source more suited to the client's needs.
  • $9.5 Million provided to a Philadelphia-based marketing firm. As a well-established distributor of direct mail, the company was acquiring a digital marketing operation. The current major bank had been dragging the process for acquisition financing. Lawrence quickly arranged the appropriate financing for the purchase as well as working capital.
  • $6 Million arranged for an iconic Los Angeles hotel. Due to covid, the hotel had to temporarily close. Many financing sources were concerned about the timing of the industry recovery. Lawrence secured necessary lines of credit to facilitate the re-opening of the hotel.
  • $5 Million supplied for a health staffing operation through our partnership with FSW Funding. The borrower had received a California contract to set up covid vaccine clinics. Money was needed to hire the necessary personnel to fulfill the contract.
  • $2 Million sub-debt term debt was furnished to a California flooring manufacturer. Construction had commenced on an expansion into Las Vegas. The existing bank was happy to keep the line of credit but more money was required. Lawrence identified an aggressive mezzanine fund for this need.
  • $2 Million factoring facility was issued to a manufacturer of sugar-free energy drinks for kids.  The product was featured on Shark Tank which resulted in huge demand for the drinks. The solution sourced by Lawrence allowed the company to meet these fast-growing orders. This was funded by Lawrence's Joint Venture partner, FSW Funding.
  • $1 Million term debt supplied to a California tomato grower.  In 2020 Lawrence had arranged a line of credit for the farm. Subsequently, more equipment had to be purchased for demand from grocers for sun-dried tomatoes. An equipment lender offered lease financing for the new equipment.

 Lawrence also facilitated a large number of PPP loans for its customers in conjunction with a banking institution.

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