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Super G Provides $1.25MM Seasonal Over-Advance to Complement Bibby ABL

April 28, 2016, 07:26 AM
Filed Under: Specialty Industries

Super G announced the firm provided a $1.25 million second lien seasonal over-advance loan to a sposor-backed company that formulates and distributes impression fragrances. The second lien loan complements Bibby Financial Services' asset-based loan. 

The company recently transitioned from a commercial bank lender to Bibby Financial Services and required a seasonal over-advance to build inventory and maintain vendor relationships in order to fulfill anticipated sales order growth for the holiday season.
Super G was able to get comfortable with the company’s operating history, 2016 growth initiatives, management team and seasonal cash flow.  Underwriting and the funding approval process of the second lien loan took place quickly allowing Bibby to reduce its over-advance position and providing the company with enough liquidity to meet immediate seasonal production demands.  Super G’s covenant light loan documents, cooperative process with existing senior lenders and rapid decision-making allowed for an efficient and seamless closing.

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