Daily News: June 18, 2014

Gibraltar Closes $3.5MM in Credit Facilities

Gibraltar announced the closing of four new facilities supporting companies from diverse sectors, including a recent $1.5 million revolving line of credit for an athletic shoe designer and manufacturer.

The Texas-based specialty shoe company developed a patented spring for the sole of distance running shoes. Gibraltar’s facility helped the company to refinance an existing bank line and gain fresh financing for new avenues of growth.

Gibraltar also closed a $500,000 facility with a Boulder, CO-based biotech business, specializing in the discovery and development of small molecules from sustainable natural biomass sources, needed creative financing to support rapid growth. Gibraltar’s factoring solution allowed the company to expand in the specialized industry of improving human health and well being through omega-3 phospholipids and fatty acids.

Gibraltar closed a $750,000 facility with a full-service Philadelphia language and cultural services company. Providing a suite of 24/7 translation services, the company required financing to support strong growth. Having outgrown its current banking relationship, the provider partnered with Gibraltar to secure a larger facility to allow for employment growth and expansion.

Gibraltar closed an additional $750,000 facility with an Ohio-based bio-fuel company that has developed technology that enhances chemical reactions and modifies the physical and chemical properties of heavy fossil petroleum. Gibraltar Technology Finance, a division of Gibraltar, provided a working capital facility that will fund growth and advance liquidity on the company’s lease and sale of equipment to various oil refiners throughout the world.