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Gibraltar Business Capital Structures $12MM Financing for Building Materials Company

February 12, 2016, 07:36 AM
Filed Under: Building Supply

Gibraltar Business Capital announced a lending partnership with Millard Lumber Inc., a top value-added distributor of lumber and other building products. Based in Omaha, Nebraska, Millard has seen strong continued sales growth, creating a need for expanded credit. In addition, in order to help gain cost efficiencies, Millard knew it needed expanded lending capacity on its working capital assets.

Gibraltar stepped in at the request of Charter Hill Partners, a Nebraska boutique investment bank engaged by Millard to assist with the refinancing. The deal was an ideal fit for Gibraltar’s asset based lending product, and Gibraltar quickly closed on the $12 million revolving credit facility. The custom structure includes increased advance rates on accounts receivable and inventory, which is designed to free up additional debt capacity to help Millard meet growing working-capital needs.

Gibraltar partners regularly with financial sponsors, restructuring advisors, investment bankers, and commercial bankers to set up creative financing for businesses in all sectors that need working capital lines of credit to achieve growth and financial goals.

Headquartered in Chicago, Gibraltar Business Capital is a privately held middle-market lender providing small- to medium-sized business owners fresh and accessible capital alternatives to a commercial bank loan. With fast, flexible asset based lending and factoring solutions, Gibraltar delivers lines of credit and specialized funding facilities from $2 million to $10 million that allow businesses to meet their objectives. Building on its 60-year history, Gibraltar Business Capital is a multifaceted company strategically positioned with the portfolio, infrastructure, personnel and resources to support its clients nationwide.

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