Daily News: May 16, 2012

Noble Funding Provides $41.5 Million to Three Companies in April


Noble Funding arranged three asset-based lending credit facilities in April 2012 for $35 million, $4 million, and $2.5 million respectively. Details include:

  • a $35 million asset-based line of credit for an oil and gas chemicals importer and distributor. Transaction details: 85% advance on accounts receivable and 75% advance on inventory, including in-transit inventory.

  • a $4 million asset-based line of credit for a company specializing in the retro fitting and refurbishment of cellular towers and transformers. Transaction details: 85% advance on accounts receivable.

  • a $2.5 million asset-based line of credit for a commercial flooring company specializing in large multi-family apartment complexes. Transaction details: 85% advance on accounts receivable up to 120 days from date of invoice.