Daily News: November 27, 2018

Continental Provides $5MM ABL Facility to School Supplies Company


Continental Business Credit completed a $5 million asset-based lending facility for an online retailer and distributor of school supplies.

The borrower is owned by a Los Angeles-based private equity firm who was seeking to partner with a lender who understood the opportunities and risks inherent in its business while offering flexibility to support the firm’s seasonal inventory needs.

The line of credit secured by accounts receivable and inventory supports the private equity firm’s philosophy of building sustainable value in the companies they acquire.

“Jason Carmona and the rest of our team worked with the private equity firm and crafted a creative facility that gives the company the liquidity it needed so management can focus on growth,” said Matthew Begley, CEO of Continental Business Credit.

Headquartered in Los Angeles, Continental is a privately-owned commercial finance company providing lines of credit up to $10 million to small and mid-sized companies operating across a wide range of industries in the U.S.