Business Capital Secures $2.85MM for Publication Services Provider
Business Capital has secured a $2 million senior secured credit facility and $850,000 secured term loan for a California-based printing and on-line publishing company.
The client is a regional producer and printer of magazines, catalogs, event guides, sports programs, directories and other publications for the travel, food and beverage, entertainment, healthcare, technology, professional association and sports industries.
Due to the economic downturn and the changes in the printing industry, traditional revenue sources were impacted and the company was forced to make a shift to include digital media. The new credit facility paid off the company’s previous lender and allowed the firm to complete their transformation into a competitive, integrated print media organization and support a planned increase in sales.
“Many banks and lenders are shying away from the printing industry, but we have built a nice niche and strong track record of being a valuable partner and capital provider to this underserved sector,” said Chuck Doyle, managing director of Business Capital. “We understand the printing industry’s challenges as well as opportunities. As a result, we successfully underwrote this credit by articulating the company’s history and future plans for adaptation and growth to our credit committee partners to secure intelligently structured and affordable financing for our client.”
Business Capital is a national commercial finance and debt restructuring firm that specializes in business loans for small- to middle-market companies.