Daily News: August 6, 2013

Lawrence Financial Finances More Than $20MM in Q2/13

Lawrence Financial Group announced the closing of funding for its clients in excess of $20 million of financing in the second quarter of 2013.

Soligent of Rohnert Park, CA, received a $10 million line of credit. This funding facilitated the company’s acquisition by Leverett Energy. Soligent is a distributor of renewable energy products. It also designs and supplies solar electrical systems for commercial, residential and government clients. The company is the result of a merger of DC Power Systems and Solar Depot.

Gilbert Martin Woodworking of San Diego, CA, obtained a $4.5 million working capital line of credit. The company manufactures, designs and distributes furniture. In addition to its own brand, Martin Furniture, the company has licenses to manufacture items under the Kathy Ireland brand. It maintains a manufacturing facility in Tijuana, Mexico.

Woodland Hills, CA-based Poms Associates was granted a working capital lease line for office expansion. It is a full-service insurance brokerage offering property and casualty risk management solutions. In addition to its California operations, Poms has additional offices is New Mexico, Colorado and Washington State.

Los Angeles-based OWS (d/b/a Roex Vitamins) closed on an inventory facility. This funding will enable the firm to expand its neutraceutical offerings. Since its founding in 1994, Roex has developed numerous wellness products including those used for weight loss, women’s health and other nutritional supplements. The firm was founded in 1994 and all its products are produced in GMP certified facilities.

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.