Daily News: December 5, 2013

Revere Finance Enters ABL Market

Revere Finance, a new provider of capital to small and middle-market businesses nationwide, is now available to make loans. Formed by private equity firm PPL Group, the company draws on more than 40 years of experience serving manufacturing, transportation, construction and a variety of other industries.

“We provide capital to businesses after learning about their situation, goals and challenges,” said Alice Peterson, chief operating officer. “Our loans are structured to match the specific circumstances and requirements of the company. We provide financing to clients who may have difficulty obtaining credit from traditional sources, responding with loan proposals very quickly and with a minimum of approval layers.”

Revere Finance said it was formed to fill a growing need in the marketplace as traditional banks and lenders tighten lending on loans of less than $25-million. Revere specializes in senior secured asset-based lending for acquisitions, bridge loans, DIP loans, note purchases, sale-leasebacks, restructuring and turnarounds. The company is focused on making loans up to $10 million and making select equity investments. Because of their experience and expertise in manufacturing, Revere said its principals can accurately and quickly determine asset values and the impact of cash infusions into the business, working closely with company advisors to craft a creative finance solution.

Company leadership has successfully structured financing for a broad range of manufacturing industries including construction, industrial machinery, metal fabrication, paper and printing, automotive, electrical, aerospace, chemicals and defense.

“We’re focused on the success of the companies we serve and have the experience to take on complex situations where we can add real value,” said Todd DiBenedetto, managing director of Revere. “Companies are coming to us to fund new growth. Revere is optimistic about the potential to stabilize and rebuild small and medium-sized businesses across the country.”