Graystone Capital Provides $2.5 Million to Cargo & Courier Company
Graystone Capital has announced the issuance of a $2.5 million credit facility to a cargo and courier company headquartered in the Pacific Northwest. The ten-year-old business will utilize the loan proceeds to support its working capital needs as the company broadens its operations into the California market.
The credit facility is part and parcel of a corporate restructure that entails the collapse of several entities into a single operating company that is held by the existing holding company. It included Graystone Capital working in tandem with the incumbent bank to establish an intercreditor relationship that fostered an increased line of credit for the company as well as facilitating a low-cost term facility issued by the bank. Concurrently, the company has negotiated separate equipment financing that will enhance its rolling stock and expand delivery fleet.
Graystone Capital’s ability to understand the elaborate and interrelated cash flows, as well as document and board the loan prior to the collapse of the various entities was instrumental in the strategic coalescence of the deal at large.
Graystone Capital is a direct lender that specializes in asset-based lending services designed to support the growth of American companies.