Daily News: October 24, 2013

Gibraltar Closes Nearly $15MM in New Credit Facilities

Gibraltar Business Capital has closed on almost $15 million in new lines of credit for companies from coast to coast, in the last two months.

One new facility included a 20-year-old Illinois-based distributor of custom kitchen and bath cabinetry experiencing strong growth due to robust recovery in the Chicago-area housing market. Gibraltar provided a quick turnaround on a specialized factoring line of credit, giving the cabinetmaker key working capital to keep business moving forward.

Gibraltar also closed the following four asset-based lines of credit in the following industries:

Magazine Publishing: Gibraltar helped Chicago-based Johnson Publishing Company, the family-owned publisher of Ebony and Jet magazines, with a credit facility to build its digital strategy and facilitate the global growth of its subsidiary cosmetic brand.

Home Nursing Care: Gibraltar provided working capital to this Southern California-based business to meet a growing demand for home health nurses, therapists, social workers and aides.

Pop Art Design: In weeks, Gibraltar closed on a line of credit for a Boulder, CO-based designer of pop art toys, apparel and accessories for the mass market.

Waste Management: Gibraltar assisted this New York-based company in retaining its status as a leader in the “beneficial use” waste sector, providing a quick line of credit to service new customers.