Daily News: October 25, 2012

Lawrence Closes Five Lines of Credit, Term Loans


Lawrence Financial announced the funding of five lines of credit and term loans with total availability of $7 million.

World Trading (d/b/a Hobbytron) has obtained a $2 million facility from Lawrence joint venture partner, FSW Funding of Phoenix, its direct funding partner. The capital infusion enables the company, based in Santa Clarita, CA, to continue its rapid expansion. World manufactures and imports remote control vehicles and other hobby products.

Four Star Distribution received a working capital line of credit of $2 million. The loan will be used to expand its skateboard apparel and accessory line. The company is based in Los Angeles.

Revolution Mobility, distributor of medical equipment, needed additional financing secured by its inventory. Lawrence Financial assisted the firm in locating an inventory-only lender to supplement its existing accounts receivable credit facility.

Operating special facilities for individuals with developmental disabilities, the SAILS Group received working capital line of credit to expand and grow its business. It operates facilities in San Diego, CA.

Lawrence Financial also closed another subordinated term loan for Kingman Aviation Services. Earlier Kingman was granted a revolving bank line and a term loan, also with the assistance of Lawrence Financial.

Lawrence specializes in providing asset-based financing including loans secured by accounts receivable and inventory, as well as term loans on equipment and intellectual property.