Daily News: May 25, 2012

GemCap Inks $2.5 Million to South American Fruit Importer, Reseller


GemCap announced it provided a $2.5 million credit facility to an importer and reseller of fruit from South America. The facility, comprised of a revolver against inventory in transit and receivables, allows the company to finance its growth.

With headquarters in Santa Monica, CA, GemCap provides asset-based loans, ranging from $500,000 to $10 million, as a senior secured lender.