Daily News: October 21, 2013

Lawrence Financial Announces Q3 Transactions Exceeded $30MM

Lawrence Financial announced the closing of seven significant transactions in the third quarter of 2013, with commitments in excess of $30 million.

In partnership with its joint venture lender, Lawrence provided a multi-million dollar working capital facility to Revolution Mobility. The financing will provide needed expansion funding for the rapid growth the company is experiencing. Founded in Ontario, CA, in 2003, the company distributes all types of medical equipment including wheelchairs, homecare beds, canes, walkers and other types of needed healthcare supplies.

A $20 million facility was secured for a major asset liquidation firm. This creatively structured transaction will aid the holding company, based in Los Angeles and New York, to expand its asset and acquisition platform. The company specializes in providing capital asset solutions to American industry. Machinery and equipment, real estate and intellectual property are among the asset classes in which the firm has expertise.

Creative Commercial Funding, based in Los Angeles, has obtained a multi-million dollar re-discount line of credit. Creative, founded in 2005, provides second lien funding to lower middle market firms. Loans are based primarily on cash-flow, but additional reliance is placed on collateral and management experience. Structured as subordinated or mezzanine facilities, Creative can supplement normal banking or asset based structures for fast growing entities.

A subordinated debt facility was secured for Nob Hill Catering, Belmont, CA. This mezzanine term loan will supplement their senior lending facility, thereby enabling continued rapid expansion. Nob Hill was formed in 1978 and caters food service for schools, weddings, holiday parties and other events. Clients include the San Francisco Giants as well as Stanford University.

Lawrence additionally secured more than $1 million in real estate term loans for three concerns.