Forest Capital Provides $300M to Airport Equipment Manufacturer
Forest Capital provided a $300,000 accounts receivable facility for a South Carolina- based manufacturing company produced a line of airport equipment, which enabled the company to purchase materials to fulfill contracts, take on new customers and meet payroll demands.
In 2010, the company produced a line of airport equipment for LAX, MIA, LGA and JFK airports for carriers including Delta and American Airlines. Following the success of these projects, the company received orders from airports in Canada and Japan for similar equipment and continued to receive fabrication project orders from the New York Subway system and several retailers.
Demand for the company’s products and services continued to grow in 2011 as existing customers upgraded equipment and new customers contacted the Company for projects. The Company faced a stumbling block similar to other companies in a high growth cycle – they lacked the working capital to serve both existing customers and take on new orders.
Today, the company has the necessary working capital to meet the needs of existing customers and to continue to build its book of business.