GemCap entered into an agreement for a $4 million revolver against inventory to a Frozen Food Distributor in California.  The facility allowed for refinancing and provided the company working capital for growth and expansion.  “We finance many types of food and beverage products and we view these industries as a growing sector of our business”, said David Ellis, Co-President of GemCap.

GemCap additionally extended a $9.8 million term loan against machinery and equipment to an automobile assembly plant.

“We are pleased to have a strong first half of the year” said Richard Ellis, Co-President of GemCap, “these loans show our commitment to meet the financing needs of small- to middle- market companies seeking asset-based loans”.

GemCap is an asset-based lender specializing in inventory, equipment and accounts receivable loans from $500,000 to $10 million.