Daily News: May 10, 2012

RedRidge Provides Financing for Small- to Mid-size Businesses


RedRidge Finance Group announced that it will now also provide transitional funding for small- to middle-market companies. This product will allow companies that are no longer eligible for bank type credit to obtain financing offering a term of 12 to 24 months.

The purpose of the facilities is to give companies the ability to continue to receive financing until such time that they can return to traditional bank financing. Additionally, the facilities can be used for acquisitions, growth or restructuring of the balance sheet.

The loans will be in the form of fully secured ABL facilities as well as partially secured facilities with stretch components where cash flow is deemed adequate. The credits will typically be backed by accounts receivable, inventory, machinery and equipment and on occasion real estate.

The funding size of the transactions will be in the range of $500,000 to $5 million and up. RedRidge has the ability to fund deals within 10 to 45 days from receiving the initial information packages from a prospective borrower.

RedRidge Finance Group, headquartered in Chicago, is uniquely positioned to serve its clients utilizing various manners of expertise including special opportunity capital and due diligence services.