Lighthouse Financial provided a $1.7 million revolving line of credit and a $350,000 term loan facility to an Atlanta-based fabricator and distributor of pipes, valves and fittings.

The credit facility was designed to refinance the existing line of credit and term loan and to provide additional working capital to bring trade debt current and support sales growth. Lighthouse was able to structure a facility against accounts receivable, inventory and machinery, and equipment that paid out the existing lender in full and created significant working capital availability.

“Due to economic conditions, we needed to consolidate our operations back to Atlanta. This resulted in an unsteady cash flow as we right-sized our business. Lighthouse really took the time to understand the circumstances related to our turnaround and structured a credit facility that helped us catch up on payments to vendors and aggressively pursue new sales opportunities,” said Steve Sheppard, CEO.