Daily News: April 23, 2014

Lawrence Financial Closes More than $14MM in Credit Facilities

Lawrence Financial Group announced the closing of five significant transactions.

A fifty million dollar debt restructure for a major music publishing firm was accomplished with Lawrence providing $8 million revolving working capital line of credit plus a $2 million term loan. The publishing house, acquired from Warner Brothers, needed to work through the financing arranged at the time of the original acquisition.

In addition, Lawrence assisted the retail chain, Naartjie Kids, in securing a $4 million facility. Naartjie, founded in Cape Town, South Africa, in 1989, has expanded to 36 states in the U.S. plus franchised stores in Asia. The chain designs, manufactures and retails colorful clothing for children of all ages.

Phoenix, AZ-based Stealth Software Systems received a working capital line of credit secured by contract receivables. The firm, founded in Holland, maintains facilities in U.S., Europe and Asia. Its products include software developed for Microsoft. Most recently it has begun marketing advanced enabling technology systems for industry worldwide.

An accounts receivable factoring line and purchase order funding was obtained for United State of Apparel (USA), Huntington Beach, CA. USA designs, manufactures and distributes slip on footware to chain stores nationally.

Kingman Aviation received an add-on term loan enabling it to purchase a refurbished aircraft in its Kingman, AZ, facility. This is fifth term loan provided to Kingman by Lawrence Financial, in addition to its working capital line of credit.

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.