Concord Financial Arranges $5 Million Term Loan for Franchisor
Concord Financial Advisors, LLC, a Midwest middle-market financial intermediary, announced the closing of a $5 million cash-flow term loan for a franchisor in Indiana.
The company had a strong three-year trend of positive earnings and EBITDA, but did not meet the minimum levels required for a traditional leverage transaction and there were no current or fixed assets to support the loan as collateral. After conducting a targeted process to local, regional and national commercial banks, Concord secured a commercial banking proposal from a bank that met the company’s objectives and closed the transaction in under ninety days.
“These are important milestones for our client companies. We are pleased to have helped them achieve their goals,” said Tom Jones, Concord founding partner. “It’s exciting to know that we have even more deals in the pipeline for 2012 to help other middle-market companies expand their businesses or satisfy their financing needs. Our experience and depth of financing relationships is truly paying off for our clients.”
The franchisor commented, “Cash-flow deals for companies with less than $10 million of EBITDA are hard to find in the current market and Concord brought us to institutions that were truly interested in providing us a total solution. We are extremely happy with our current lender.”
Concord was formed in 2001 to serve as a financial intermediary specializing in private placements of senior and subordinated/mezzanine financing for lower middle-market companies.