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Diamond Business Credit Funds Credit Line to Start-up Manufacturer

February 14, 2014, 07:14 AM
Filed Under: Manufacturing

Diamond Business Credit is pleased to announce that it recently funded a $100,000 line of credit to a start-up New England based manufacturer and contract assembly company.

The founder of this business worked for many years for a similar business that was exiting the short run segment in favor of larger relationships. The founder saw a lucrative niche for the small, custom market and left to start his own firm. Capitalizing on close relationships within the industry, the new company soon had enough orders to sustain a solid growth curve. But the fledgling entrepreneur ran into the same wall that so many do: lack of working capital. He had the expertise in manufacturing and assembly, and he had customers placing orders. He needed only the support of a lender to supplement his modest startup capital.

Banking was out of the question for the startup and time was of the essence due to the perishable nature of customers with orders to fill. A well regarded business consultant recommended Diamond, the “King of the small ABL deal”, because he had recommended Diamond to several clients and had been impressed with its responsiveness and flexibility.

Diamond quickly approved and funded a small line of credit to assist this newly born entrepreneur grow his business. No pending orders were cancelled and all goods were manufactured, assembled and shipped on time.

Diamond provides small asset-based lines of credit to companies unable to secure traditional financing. Lines start as low as $25,000 and have no lock-ins or minimums.

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