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Concord Secures $4.81MM for Prototyping Company

November 14, 2014, 07:17 AM
Filed Under: Engineering

Concord Financial Advisors, LLC announces the closing of $4.81 million of senior secured credit facilities for a precision investment casting, rapid prototyping and machining company. The company is one of the only vertically integrated casting companies in the industry, providing customers with a complete slate of services from CAD drawings and prototyping to complete finished assembly. Industries served include defense, oil & gas, aerospace, industrial turbines and medical.
The company was struggling to refinance its existing lender and retained Concord to run the refinancing process.   
Concord quickly identified the key to a new transaction required SBA 7(a) financing. The new term financing would allow the company to service its existing debt over a longer amortization period and free up near term cash flow.

Concord created a detailed memorandum featuring the company's strong management team, competitive strengths in its market and highlighted the plan to maintain and grow profitability and cash flow. After conducting a targeted search process to local, regional and national commercial banks Concord secured a commercial banking proposal that met the Company's objectives.

Concord Financial Advisors is a financial intermediary specializing in private placements of senior debt and subordinated debt/mezzanine financing for middle-market companies.

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