Daily News: January 19, 2018

Lawrence Financial Funds $150MM in 2017


Lawrence Financial Group funded more than 30 transactions for more than $150 million in 2017.

Highlights of some of the arrangements closed in the fourth quarter included:

  • $2 million equipment facility for a water bottling plant
  • Term loan to a van leasing company, enabling the company to add to its fleet
  • Inventory loan to a high-end furniture manufacturing concern
  • Term loan to a Hollywood post-production firm to update its capabilities
  • Cash flow facility provided to a distributor of tires to the trucking industry

Highlights of transactions closed earlier in the year included:

  • Purchase order funding for a distributor of name-brand electronics based in Calfornia
  • Leasing lines for a Los Angeles-based trucking company to purchase new trucks and trailers
  • Accounts receivable lines were made available – through joint venture partner FSW Funding of Scottsdale, AZ – to several new clients, including a staffing firm and a manufacturer of body armor for military and police
  • $45 million purchase of accounts receivable for liquidation from an established Los Angeles furniture retailer
  • $5 million working capital revolving line of credit for a San Diego-based marketing services firm
  • $5 million for a South Carolina-based distributor of printing cartridges
  • $4 million receivables working capital line of credit¬†for a PVC manufacturer based in Santa Paula, CA
  • $5 million seasonal inventory term loan for a California toy import and distribution concern
  • $2 million line of credit for a Sun Valley AV distribution firm
  • $3 million facility for a high-tech staffing company based in San Diego
  • $1.5 million revolver for a Scottsdale, AZ manufacturer and distributor of holiday storage containers
  • $1 million capital placement for a flexible staffing firm in Long Beach, CA and Orange, CA
  • $10 million revolving line of credit for a Rancho Dominguez, CA tire manufacturer and retread operation
  • $9 million for a woman-owned home care and therapy concern based in Santa Ana, CA