Marquette Provides $7.5MM in Financing to OttLite Technologies
Marquette Business Credit provided OttLite Technologies a $7 million revolving line of credit and a $500,000 cash-flow term loan.
Tampa, FL-based OttLite, a Prism Capital portfolio company, is a designer and marketer of OttLite branded natural daylight products used to enhance lighting for indoor activities. OttLite targets its products at a diverse range of hobbies and activities that require enhanced visual acuity and color perception including reading, sewing, quilting, painting, scrapbooking, gardening and knitting.
Concord Financial Advisors advised OttLite and Prism Capital on the financing.
“Marquette listened to our unique needs and very quickly structured a financing solution tailored to those needs that helped position us for continued success,” Blaine Crissman, partner, Prism Capital and chairman, Ottlite, said.
Marquette Business Credit provides asset-based loans to middle-market U.S.-based companies with credit requirements from $1 million – $15 million.