Daily News: February 17, 2012

Noble Funding Provides $34.5 Million in Q4/2011


Noble Funding arranged three asset-based lending credit facilities in the fourth quarter of 2011. The credit lines were $18 million, $15 million, and $1.5 million. Details include:

  • An $18 million revolving asset-based line of credit for an over the counter and prescription pet medications distributor. Transaction details: 85% advance on accounts receivable, plus 70% advance on inventory.
  • A $15 million asset-based revolving line of credit for an oil and gas chemicals and products distributor. Transaction details: 85% advance on accounts receivable, plus 50% advance on inventory, including in-transit inventory.
  • A $1.5 million revolving line of credit for an oilfield products manufacturer’s representative. Transaction details: 85% advance on accounts receivable, 25% advance on inventory.