Daily News: March 11, 2014

Presidential Financial Provides $11.5MM in New Client Capital

Presidential Financial announced the following transactions:

  • a $7 million accounts receivable, inventory and cap-ex credit facility for a Florida-based manufacturer of electronic components and provider of electronic contract manufacturing services. This company, referred by a long-standing referral source, is a private equity sponsored client.
  • a $4.5 million accounts receivable, inventory, letter of credit, cap-ex and term debt credit facility, for an Arizona-based vertically integrated manufacturer of turbine engine components for the aero and industrial gas turbine industries. A relationship with the private equity firm that owns this company resulted in this new client relationship.