NewStar Business Credit Provides Revolver to Quantum
NewStar Business Credit announced it has provided a $13.5 million revolving credit facility to Quantum Management Services Group.
The credit facility will be used for working capital and to support future growth.
“The NewStar team quickly gained an understanding of the financing challenges inherent in our business model and Canadian operating environment. This resulted in their offer of a creative package that responds to our needs. Their flexible approach to the typical asset-based Lending model will enable us to sustain and grow our business. With NewStar as our financing partner, we are excited to open the next chapter in our forty-six year history”, said, Marc Welikovitch, vice president of Quantum
“We are pleased to support Quantum’s financing needs and demonstrate our cross border financing capabilities in Canada”, stated Milton Iskra, national marketing manager for NewStar Business Credit.
John Rossi, a senior vice president located in NewStar’s Boston office, originated the transaction.
Montreal, Quebec-based Quantum, established in 1968, is one of the largest Canadian-owned recruitment and staffing firms that serves its target markets through twelve offices located throughout North America.