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Federal National Commercial Credit Announces Two Recent Deals

August 19, 2015, 07:11 AM

Federal National Commercial Credit announced it closed two recent transaction. They include:

  • An $8.5 million asset-based line of credit to a health information and technology company in the Southeast region. Due to a sale of the current lenders business unit, this company was seeking to restructure their existing financing on a short timeline.  A creative structure, including a substantial Earned but Unbilled Sub-limit was key to providing the liquidity necessary to meet the payoff and provide an ongoing working capital solution.  A collaborative effort with the private equity firm, allowed for a timely, successful closing and true financing partners going forward.
  • A $3.5 million A/R credit line to an engineering technology and education company in the Mid-Atlantic region. The bank was unwilling to provide this twenty–two year old non-profit company an increase to their current line of credit.  While new government contracts presented opportunities for growth, the company needed additional working capital support.  Upon receiving the referral from the bank, the new credit facility was underwritten, closed and funded in less than two weeks.  The company now has a credit facility that will meet their needs as they grow.

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