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Business Capital Structures $3MM Credit Facility for Modular Building Contractor

August 29, 2014, 07:37 AM
Filed Under: Construction

Business Capital announced that it recently structured and secured a $3 million credit facility comprised of a revolving credit facility and a term loan. The borrower, a central Pennsylvania general contractor and/or subcontractor in the modular building industry, manufactures, installs and finishes modular structures for developers of residential multi-family projects, hotels, apartments, assisted living facilities, student housing and single family homes located throughout the Northeast and Mid-Atlantic states.
A niche company,they were experiencing rapid growth but were saddled with IRS liens and liabilities, high interest loans, as well as a long payment and production cycle for each unit. Working capital was needed to finance the forecasted growth in sales and to continue to upgrade facilities and equipment.
Business Capital has a successful track record of delivering growth and acquisition capital for companies where traditional bank financing is not an option and was quickly able to structure and secure a senior secured term loan and revolving line of credit which will provide the company with the additional working capital they need to further their plans for growth.

Business Capital is a leading commercial finance and debt restructuring firm specializing in securing customized debt based solutions for rapidly growing as well as challenged small and middle market companies nationwide who require a unique, timely and tailored financing structure to address their particular needs, especially in situations where conventional capital sources are not an option.

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