Daily News: May 19, 2014

Gibraltar Funds Total $2MM in Recent Deals

Gibraltar Business Capital recently funded a $500,000 deal to a Wisconsin-based trucking company. After the bank reduced its borrowing capacity, the client needed a new way to fund its growing business. Leadership visited the Gibraltar offices and secured the factoring facility to meet the company’s payroll needs.

A New York digital media company was rapidly expanding overseas and had outgrown its current factor. In just three weeks Gibraltar was able to help the business secure foreign credit insurance and leverage that to provide a $250,000 factoring facility, giving the company liquidity to take on new international business.

A Florida-based manufacturer of off-road tires and tire-related accessories and equipment needed to clean up some payables and position itself to take on a flurry of new business. Gibraltar provided a $750,000 asset based line of credit so the company could successfully meet existing customer demands and new growth opportunities.

An Oregon-based environmental services company, specializing in the removal of asbestos and other hazardous waste from construction sites, needed a flexible new lending partner. Gibraltar provided a $500,000 factoring facility to support the company’s growth plans.