Daily News: August 11, 2014

Gibraltar Closes 32 Deals in 31 weeks

Gibraltar Business Capital has completed over 30 asset-based lending and factoring facilities so far in 2014.

Here are a few recent completions:

An Arizona-based supplier of cabinets, flooring and counter tops had outgrown its private holdings and funding through its founder. With an immediate and pressing demand for its product, the company was provided a $3.5 million revolving line of credit to support the supplier in fulfilling a rise in sales.

A Florida-based company, which imports and distributes processed frozen fruit from Colombia, needed capital to meet growing demands. Gibraltar provided a customized $250,000 revolving factoring line of credit to assist this importer.

Looking for a more cost-effective and flexible cash-flow solution, a North Carolina-based plastics manufacturer partnered with Gibraltar on a $500,000 revolving factoring line of credit to refinance an existing factoring relationship. The move freed up cash and resources that the company can now reinvest in growing business.

After relocating its corporate headquarters, a South Dakota-based manufacturer of high-density memory modules, printed circuit boards and other computer products was operating without a line of credit. Gibraltar provided a $1.5 million asset based line of credit to better support the manufacturer’s recent growth.